BULGARIAN SE FUTURE OUTLOOK 2010
Thursday, 14 January 2010
Although 2009 was characterized by a certain stabilization of the Bulgarian capital market and the stock prices evenregistered an increase of around 25%, the overall situation remained extremely volatile. There are certain signs lately that the crisis is slowly coming to an end, which gives many analysts the reason to believe that 2010 will be the year of the recovery.
Despite the difficulties on the market, causing low trading volumes and turnover, lack of new listings and investors’ interest, the Bulgarian Stock Exchange followed a pro-active strategy with the aim of attracting new companies and regaining the investors’ trust. This will remain the core policy of the BSE in 2010, while at the same time efforts will also be pursued to develop new services for the members and introduce new instruments on the market. The exchange plans to launch this year a new segment for structured products, mainly warrants and certificates.
The key players on the marketwelcomed thegovernment’s plansto privatize fully or partially through the stock exchange some of the state owned monopolies. Special attention is given to the idea to list stakes of energy producing and energy distributing companies. The overall perception is that such listings will not only boost the liquidity on the market, but attract a substantial amount of foreign investment.
Among the BSE’s priorities in 2010 will be to improve the post-trading procedures in close co-operation with the Central Depository in order to facilitate the clearing and settlement of transactions executed by foreign dealers, as well as to promote dual listings.
Co-operation with partner exchanges from FEAS, development of common strategies for attracting global investors will also remain an important part of BSE’s activities in 2010.