Foreign Investor Submits Order for 1 Million Units of Expat Bulgaria SOFIX-based ETF
Wednesday, 22 February 2017
SOFIX-based exchange-traded fund Expat Bulgaria [BUL:BGX] has received an order on the primary market from an unnamed foreign institutional investor for issuance of 1 million units of the fund, the fund's management company said. Following the new order, the exchange-traded fund (ETF) will reach a net asset value of over 27 million levs ($14.6 million/13.8 million euro), Expat Asset Management owned by Expat Capital said in a statement on Monday. "The fund’s management company is in talks with other foreign investors. The upcoming listing of the ETF on the London Stock Exchange will contribute to the intensification of these processes," according to the statement. On Monday, Expat Bulgaria [BUL:BGX] closed 0.61% higher at 1.156 levs as 15,770 units changed hands. Expat Bulgaria is the only ETF in Bulgaria. It follows the performance of the major Bulgarian Stock Exchange (BSE) index SOFIX.