December 20 (SeeNews) - The Bulgarian Stock Exchange (BSE) said it has decided to place under surveillance for nine months the shares of First Investment Bank [BUL:FIB], or Fibank, due to failure to meet its listing requirements.
Fibank did not meet a requirement that the average monthly turnover of the share issue on the exchange for the last six months should be at least 300,000 levs ($162,873/153,388 euro), the BSE said in a statement on Monday.
A review of compliance will be made every three months, it added. If it finds that Fibank meets the listing rules, the surveillance will be terminated.
The bourse also placed under surveillance on Monday the shares of several other issuers, including Bobov Dol thermal power plant [BUL:TBD], fuel retailer Petrol [BUL:PET], Bulgarian River Shipping company [BUL:BRP], advertising company Billboard [BUL:BBRD], resort operator SS Konstantine and Elena Holding [BUL:SKEH], cardboard packaging and cigarette filter producer Yuri Gagarin [BUL:YGAG] and municipal utilities Toplofikatsia-Burgas [BUL:TPLB] and Toplofikatsia-Ruse [BUL:TPLR].
The measure was taken after the companies failed to meet requirements related to the minimum trading turnover, the number of executed transactions and the disclosure of regulated information.
(1 euro = 1.95583 levs)