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Bulgaria's Gradus shares bounce back up near IPO price, SOFIX falls

Author Mario Tanev
Bulgaria's Gradus shares bounce back up near IPO price, SOFIX falls hxdbzxy/

SOFIA (Bulgaria), August 10 (SeeNews) - Shares of Bulgarian poultry producer Gradus [BUL:GR6] gained 4.40% to a closing price of 1.78 levs ($1.04/0.91 euro) on Friday, bouncing back up near to its IPO price of 1.80 levs, bourse data shows.

A total of 1,916 Gradus shares changed hands during the trading session at a weighted average price per share of 1.7668 levs.

In June, Gradus raised 81.4 million levs in a two-day initial public offering (IPO) on the Sofia bourse. Investors subscribed for 45.2 million Gradus shares, or 81% of the total number of offered shares, at a price of 1.8 levs apiece, making it the biggest IPO on the Bulgarian Stock Exchange since 2007.

The blue-chip SOFIX index lost 0.38% to 639.34 points, dragged down by a 3.31% drop in the share price of Central Cooperative Bank [BUL:4CF], which ended the session at 1.75 levs.

Car battery maker Monbat [BUL:5MB] rose the most among blue chips, closing 1.25% higher at 8.1 levs.

The wider BGBX40 index, which tracks the 40 most traded shares on the Sofia bourse, rose 0.21% to 123.70 points, following a 10.97% drop in the share price of Aktiv Properties REIT [BUL:5AX], which closed at 4.22 levs.

The BG-REIT index, which tracks the performance of real estate investment trusts (REITs), fell 0.10% to 123.24 points, as Bulland Investments REIT [BUL:5BD] closed 4.0% lower at 0.96 levs.

Only two other BG-REIT components traded on Friday - Bulgarian Real Estate Fund [BUL:5BU] gained 0.53% to 1.91 levs, while Advance Terrafund REIT [BUL:6A6] closed unchanged from its previous closing price at 2.07 levs.

The BG TotalReturn30 index, in which companies with a free float of at least 10% have equal weight, lost 0.49% to 528.77 points.

Total trading turnover on the BSE regulated market decreased to 511,260 levs on Friday from 1.47 million levs on Thursday.

(1 euro = 1.95583 levs)