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SOFIA (Bulgaria), September 11 (SeeNews) - The Bulgarian Stock Exchange said on Tuesday that hydraulic equipment manufacturer M+S Hydraulic [BUL:5MH] and financial leasing company Elana Agrocredit [BUL:0EA] will replace Industrial Holding Bulgaria [BUL:4ID] and Doverie United Holding [BUL:5DOV] in the composition of its main SOFIX index as of September 25.
The SOFIX tracks the 15 most capitalised and liquid shares on the BSE.
The issues are ranked based on four criteria, which carry an equal weight: median value of the weekly turnover during the last six months, number of trades during the last 6 months, free-float market capitalisation and average arithmetic value of the spread between buy and sell prices.
The maximum weight in the index is 15% for a single issue and 20% for an economic group.
Despite ranking eighth, drug trader Sopharma Trading [BUL:SO5] will not become a component of the SOFIX, as its weight, together with its parent company Sopharma [BUL:3JR], which is also part of the index, will exceed 20%.
Thus, construction company Trace Group Hold [BUL:T57] will remain part of the SOFIX, despite ranking 16th.
The BSE also revised the composition of two of its other indices.
Sofia Commerce-Pawn Brokerage [BUL:6SOA], Bulgarian River Shipping [BUL:5BR], Elhim Iskra [BUL:52E], Lavena [BUL:4L4] and Tchaikapharma High Quality Medicines [BUL:7TH] will enter the wider BGBX40 index, which tracks the 40 most traded shares on the Sofia bourse, on September 25.
Toplivo [BUL:3TV], Oil and Gas Exploration and Production [BUL:4O1], Bulgartabac Holding [BUL:57B], Aktiv Properties REIT [BUL:5AX] and Severcoop Gamza Holding [BUL:6S4] will be excluded from the BGBX40 index.
Regarding the BGTR30 index, in which companies with a free float of at least 10% have equal weight, will also have four new entrants: Sv. Sv. Konstantine and Elena Holding [BUL:3NJ], Synthetica [BUL:EHN], Hydraulic Elements and Systems [BUL:4HE] and Agria Group Holding [BUL:A72].
Velgraf Asset Management [BUL:1VX], Himsnab Bulgaria [BUL;58E], Balkan and Sea Properties REIT [BUL:5H4] and Galata Investment Company [BUL:GTH].
No changes will be made to the composition of the BGREIT index, which tracks the performance of real estate investment trusts.