April 18 (SeeNews) - The Bulgarian Stock Exchange said it is placing the issue of shares of car battery manufacturer Monbat [BUL:5MB] under supervision for a period of three months due to the company's failure to comply with the bourse's listing rules.
"If Monbat AD still doesn't comply with the abovementioned criteria upon expiry of the monitoring period, BSE-Sofia will take action in pursuance of Art. 43 (4) of BSE-Sofia Listing Rules namely will transfer the issue of shares to the market or the segment with the highest requirements which the issue meets," the BSE said in a statement on Tuesday.
You can download the 2023 Automotive industry in Southeast Europe report here
Monbat is currently part of the Premium Equities Segment of the main market of the BSE.
According to the BSE's statement, Monbat has failed to satisfy the requirement for admission on the Premium Equities Segment regarding the minimum number of transactions with the share issue. According to the segment's listing rules, the average monthly number of transactions with the share issue must be at least 150 in each of the past six months.
In case Monbat decides to appoint a market maker, the BSE will terminate the monitoring.