BULGARIAN STOCK EXCHANGE AD Sofia, 30 January 2023
The pilot project is in fulfillment of the Ministry of Innovation and Growth's policies for publicity and transparency in the evaluation of investment projects
The Bulgarian Stock Exchange (BSE) and the Bulgarian Development Bank (BDB) are creating a pilot investment fund to support small and medium-sized enterprises in the country. This became clear today at the signing of a tripartite agreement between the Minister of Innovation and Growth, Alexander Pulev, the Executive Director of BBF, Assoc. Prof. Manyu Moravenov, and the Executive Directors of BDB, Iliya Karanikolov and Ivan Cerovski.
Among the objectives of the creation of the pilot fund is the testing of the market and investment interest. The Bulgarian Development Bank is making a pilot minimum investment of BGN 2 million, and the BDB's financial investment is expected to grow several times depending on the financial commitment made by other key institutional investors and international financial institutions with which talks are pending. The Fund is expected to start with an initial capital of a minimum of BGN 10 million, which will grow and attract strong interest due to the prospect that alternative credit products will become less competitive within the framework of the trend for a global sharp rise in interest rates on traditional credit products.
The pilot fund also aims to achieve maximum publicity and transparency in the evaluation of investment projects, as well as to develop the capital markets as a financing tool in crisis conditions.
The fund will help create a business-encouraging environment, using the opportunities for growth of small and medium-sized enterprises that provide the regulated and BEAM markets, organized by the Bulgarian Stock Exchange. Through it, companies that want to expand their activities can secure an additional financial resource under the conditions of full transparency and equality.
The fund is entirely aimed at supporting small and medium-sized companies that carry out an initial public offering of securities on the BEAM market or on the regulated market organized by the Stock Exchange.
BSE and BDB will inform the public about the next steps of the Fund and its future expansion in support of small and medium-sized businesses in the country.
The pilot project is in fulfillment of the Ministry of Innovation and Growth's policies for publicity and transparency in the evaluation of investment projects
The Bulgarian Stock Exchange (BSE) and the Bulgarian Development Bank (BDB) are creating a pilot investment fund to support small and medium-sized enterprises in the country. This became clear today at the signing of a tripartite agreement between the Minister of Innovation and Growth, Alexander Pulev, the Executive Director of BBF, Assoc. Prof. Manyu Moravenov, and the Executive Directors of BDB, Iliya Karanikolov and Ivan Cerovski.
Among the objectives of the creation of the pilot fund is the testing of the market and investment interest. The Bulgarian Development Bank is making a pilot minimum investment of BGN 2 million, and the BDB's financial investment is expected to grow several times depending on the financial commitment made by other key institutional investors and international financial institutions with which talks are pending. The Fund is expected to start with an initial capital of a minimum of BGN 10 million, which will grow and attract strong interest due to the prospect that alternative credit products will become less competitive within the framework of the trend for a global sharp rise in interest rates on traditional credit products.
The pilot fund also aims to achieve maximum publicity and transparency in the evaluation of investment projects, as well as to develop the capital markets as a financing tool in crisis conditions.
The fund will help create a business-encouraging environment, using the opportunities for growth of small and medium-sized enterprises that provide the regulated and BEAM markets, organized by the Bulgarian Stock Exchange. Through it, companies that want to expand their activities can secure an additional financial resource under the conditions of full transparency and equality.
The fund is entirely aimed at supporting small and medium-sized companies that carry out an initial public offering of securities on the BEAM market or on the regulated market organized by the Stock Exchange.
BSE and BDB will inform the public about the next steps of the Fund and its future expansion in support of small and medium-sized businesses in the country.
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BSE - Bulgarian Stock Exchange AD published this content on 30 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 January 2023 07:37:04 UTC.
