Sirma Group’s shares start trading on the Bulgarian Stock Exchange



Sofia,  23 November 2015 - Today, the executive management of Sirma Group Holding and the Bulgarian Stock Exchange (BSE) officially started the trading of the company's shares under the ticker [BUL:SKK]. The company listed 59 360 518 regular shares with a nominal value of 1 lev. Out of the total number of shares listed, 9,523,362 are new shares which investors subscribed for during an Initial Public Offering (IPO) for 1.2 levs per share. All shares are ordinary, nominal and freely transferable, with manager of the initial public offering ELANA Trading JSC. Ardency Cosulting was retained to manage all corporate communications of Sirma Group Holding in the months long process of the Initial Public Offering.


Sirma Group CEO Tsvetan Aleksiev said: "This is an extremely important moment in Sirma Group's history. After 23 years of work we came to a logical moment, when to move forward even quicker and expand on international markets it became necessary to find financing. We had set a very ambitious goal and succeeded in achieving it - we our IPO is the biggest for the last 8 years on the Bulgarian Stock Exchange. We are thankful for the investor's trust - it is a recognition for our professionalism, responsibility, but before everything else, an opportunity to change the world every day.


We hope we will give courage to other companies operating in the IT sector to follow our example, which will have a positive effect on both the Bulgarian stock exchange and on the IT sector as a whole."


One of the most significant Initial Public Offerings on the Bulgarian capital market began on September 16th and until October 15th were submitted orders for subscription for over 9.5 mln shares each for 1.2 leva. These orders present the serious interest from the institutional investors, with a slight predominance of individual ones. According to the conditions for the listing the current shareholders will not be able to sell for the period of six months.


"The Bulgarian IT industry is developing rapidly and has serious potential to become the driver for the local economy growth. And every stock exchange is called to support this process. The listing of Sirma Group Holding at this current moment is a good sign towards other companies, especially in the same sector, which are thinking about taking the next step. The company is the proof that the well thought out and precisely executed Initial Public Offering can be a success even in conditions of low investment activity.


The joining of one more holding that operates on several continents, has more than 300 people working in its subsidiaries, with focus towards innovations and personnel development in the family of the public companies, is a strong factor for growing the reputation of the Bulgarian capital market", said Ivan Takev, chief executive officer of Bulgarian Stock Exchange - Sofia. BSE hopes for Sirma Group to be the catalyst of the revival of the stock exchange in Bulgaria.


With capital of 11.5 mln leva Sirma Group's IPO is the biggest one on the Bulgarian stock exchange for the last eight years.


This is the second company in the IT sector after Bianor's IPO in 2007 and on the BSE the most dynamic industry in the Bulgarian economy will have a serious representative from the largest holdings in it.

About Sirma Group Holding Jsc

Sirma Group Holding Jsc is a holdings company with more than 23 years of history and is one of the largest software groups in Southeastern Europe. Over 300 software specialists work in the group, who have realized hundreds of successful projects in five continents. Sirma has expertise and long-term clients in some of the most innovative sectors of the software industry: semantic technologies, mobile applications, ERP (Enterprise Resource Planning), BI (Business Intelligence), finance, banking and payment services and e-government.

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Ivailo Borisov
Ivailo Borisov
Managing Director
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