Bulgaria’s Corpbank To Replace REIT ELARG in Blue-chip SOFIX Index

Bulgaria’s Corpbank To Replace REIT ELARG in Blue-chip SOFIX Index

Bulgaria's Corporate Commercial Bank (Corpbank) will replace real estate investment trust (REIT) ELARG Agricultural Land Opportunity Fund in the blue-chip index SOFIX, the Sofia bourse said.

Corpbank will become a component of the SOFIX as of September 28, the Bulgarian Stock Exchange (BSE) said in a statement.

The SOFIX index tracks the 15 most liquid shares on the BSE.

ELARG's removal from the index follows a decision by Bulgaria's financial watchdog in July to revoke the REIT's licence at its own request after the company's shareholders decided to liquidate it.

BSE has four more indices - the broader BG40, comprising the 40 most traded shares, the BG-REIT index, which tracks the performance of real estate investment trusts, the BG TotalReturn30 index, in which companies with a free float of at least 10% have equal weight, and the CGIX Corporate Governance index, formed by companies strictly applying corporate governance principles.

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