Bulgaria seeks to make Sofia bourse more attractive to SMEs with new legislation

The new legislative act transposes the EU’s Markets in Financial Instruments Directive II (MiFID II) into Bulgaria’s national legislation, the parliament said in a statement.

The act also envisages the establishment of a new Multilateral Trading Facility (MTF).

In May, Ivan Takev, CEO of the Bulgarian Stock Exchange, said the bourse is looking for ways to fill all remaining gaps in the capital raising process for all types of companies, ranging from early stage start-ups to listed mature companies.

EBRD First Vice President Philip Bennett said at the time he is welcoming the planned launch of such an "SME Market", an exchange for SMEs to raise funds.