SOFIX Ends 3-Day Losing Run after Reshuffle, Elana Agrocredit Forms 26% of BSE Turnover

SOFIX Ends 3-Day Losing Run after Reshuffle, Elana Agrocredit Forms 26% of BSE Turnover

The blue-chip SOFIX index of the Bulgarian Stock Exchange ended its three-day losing streak, after gaining a slim 0.01% on Tuesday, as two new companies entered the index's composition as of the start of the trading session, bourse data shows. Hydraulic equipment manufacturer M+S Hydraulic [BUL:5MH] and financial leasing company Elana Agrocredit [BUL:0EA] replaced diversified groups Industrial Holding Bulgaria (IHB) [BUL:4ID] and Doverie United Holding [BUL:5DOV] in the composition of SOFIX on Tuesday. As a result of the rebalancing, exchange-traded fund Expat Bulgaria SOFIX UCITS ETF [BUL:BGX], which tracks the SOFIX via direct physical replication, will have to divest its stake in IHB and Doverie United Holding, and purchase stakes in M+S Hydraulic and Elana Agrocredit. Expat Bulgaria SOFIX UCITS ETF is managed by Sofia-based Expat Asset Management. Elana Agrocredit formed 26% of the regulated market turnover on Tuesday, as 90,500 shares in the company changed hands in nine deals, generating a turnover of 108,580 levs.

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