The Opening Bell Rings for Sirma Group Holding on BSE

Sirma goes on BSE

Today, Nov 23, 2015, Sofia, the management of Sirma Group Holding starts the first day trading session on the Bulgarian Stock Exchange. The company will be traded with a stock ticker SKK. Subject of trading are 59,360,518 existing shares with a nominal value of 1 BG lev, which include 9,523,362 new shares subscribed in the IPO, with issue price of 1.20 BG lev per share. The shares are registered and freely transferable, and the IPO manager is ELANA Trading.

“This is a really significant moment in Sirma‘s history. After 23 years of hard work, we have reached this level of maturity, and we are ready to continue our expansion on the international markets, and accelerate our development even faster. In order to achieve this large-scale goal, we need funding. Thus, we have set a very ambitious agenda and fulfilled it. We made real the biggest public offering for the past eight years on the Bulgarian Stock Exchange. We appreciate the trust, given by  our investors. It is an acknowledgement of our professionalism, responsibility, but above all, an opportunity to change world every day”, said Tsvetan Alexiev, CEO of Sirma.

“I believe, our exit on the Bulgarian stock exchange will have a positive impact on the entire IT industry in the country, which is one of the most dynamic and successful sectors of the local economy. I hope, our success will bring new investors to the Bulgarian stock market and will trigger other technological companies to seek fast development in such way. “, added Mr. Alexiev.

Sirma‘s IPO is one of the most significant on the Bulgarian capital market. It started on 16 September, and until October 15, 2015 over 9.5 million shares were subscribed,  at a price of 1.20  BG lev per share. The IPO subscription demonstrated serious interest from institutional investors, with slight prevail of individual investors. Under the terms of the listing, the existing shareholders cannot sell their shares for six months.

“Bulgarian IT Industry is experiencing quite dynamic development, the sector has demonstrated very good potential to become a driving force of local economic growth, and each stock exchange institution is called to boost this process. Sirma’s listing is a good sign to other companies operating in the same field, which in turn, could consider contemplating such a step. The case is a proof that a well-crafted and precisely executed IPO can be successful even in conditions of low investment activity“, said Ivan Takev, CEO of BSE

“We have another member on the BSE, that joined to other listed  companies. Sirma‘s operations are global,  the company employs over 300 staff, and is strongly focused on innovations. I consider this as an instrumental factor in raising of the Bulgarian capital market profile”, added Mr. Takev.

The Bulgarian Stock Exchange team hopes that Sirma‘s listing will catalyse  the revival of the local stock market.

To date, with raised capital of 11.5 million BG Lev, Sirma’s IPO is considered as the largest deal held in Bulgaria since 2007 – the beginning of the financial crisis.

This is the second IT company,  after the IPO of Bianor  (2007), operating in the most dynamic and advanced industry, and  the sector will be seriously represented on BSE by the biggest Bulgarian player.

logo-bottom-ssolutions-graylogo-bottom-ssolutions logo-bottom-ontotext-graylogo-bottom-ontotext logo-bottom-engview-graylogo-bottom-engview SMS-logo-bottom-BWSMS-logo-bottom-BW logo-bottom-sbc-graylogo-bottom-sbc
logo-bottom-daticum-graylogo-bottom-daticum logo-bottom-smobile-graylogo-bottom-smobile logo-bottom-sicsBWlogo-bottom-sics1 logo-bottom-panaton-BWlogo-bottom-panaton-color logo-bottom-ses-graylogo-bottom-ses-color