December 5 (SeeNews) - The Bulgarian Stock Exchange said on Thursday that it has decided to admit Expat Bulgaria Short SOFIX ETF [BUL:BGXS] to trading as of January 15.
The indicative reference price for the first trading session is 1 lev ($0.57/0.51 euro) per unit, the bourse operator said in a statement.
The inverse ETF will take a bearish position regarding the BSE blue-chip SOFIX index, which tracks the performance of the 15 heavyweights on the bourse.
The ETF, managed by Expat Asset Management, currently has 110,000 issued units with a nominal value of 1 lev each.
The SOFIX index closed at 543.56 points on Wednesday, marking an 8.56% year-to-date decrease.
Expat Asset Management operates another 11 exchange-traded funds (ETFs) tracking the performance of stock indices from the CEE region, including the SOFIX.
Expat Asset Management is a wholly-owned subsidiary of local Expat Capital.
(1 euro = 1.95583 levs)