Bulgaria's Boleron starts trading on Sofia bourse

"Our team is pleased that several hundred people have invested in us and are already on the stock exchange, in this sense we are glad to be part of the development of the capital market and more news from the company is coming soon,” Boleron CEO Alexander Tsvetkov said in a statement.

As of 1145 CET on Tuesday, shares in Boleron traded 1.57% higher at 3.88 levs, bourse data showed.

In February, the company raised some 3.17 million levs ($1.77 million/1.62 million euro) in an IPO on the BEAM market after 955,051 shares were subscribed. Boleron's total share issue comprises some 4.95 million shares with a nominal value of 1 lev each.

The company plans to invest the raised funds in expanding its operations in Bulgaria, Romania and Greece.

Boleron, founded in 2019, is a software company that digitises and automates insurance processes, offering 30 insurance products by 11 companies.

(1 euro = 1.95583 levs)