The Bulgaria Financial Supervision Commission (FSC) took a series of supervisory and authorisation decisions spanning securities issuance, collective investment schemes, corporate actions and crypto-asset licensing. The FSC approved a prospectus for Team-98 Holding AD’s bond issue for admission to trading, authorised two new mutual funds, and entered a new share issue by Smart Organic AD into the public issuers register, while suspending proceedings on a corrected tender offer for Momina Krepost AD and declining to assess a crypto-asset services provider licence request due to incomplete submissions. Team-98 Holding AD’s issue totals EUR 23,000,000 across 23,000 secured, non-convertible, dematerialised registered bonds of EUR 1,000 each, with floating interest of six-month EURIBOR plus 1.15% subject to a floor of 2.65% and a cap of 5.15% per annum, payable every six months, with issue date 12.12.2025 and maturity date 12.12.2032 (ISIN BG2100042253); the FSC also entered the bond issue in the register of public companies and other securities issuers for regulated-market trading. It granted EF Asset Management AD a permit to organise and manage the mutual fund EF Target and granted Manikyan Capital AD a permit for the mutual fund Krepost, entering both schemes in the register of collective investment schemes. The FSC also registered Smart Organic AD’s issue of 23,000 new dematerialised voting shares with nominal value EUR 0.51 (ISIN BG1100005153) for regulated-market trading, and suspended proceedings on Medical Consumables Ltd.’s corrected tender offer to acquire 169,109 shares (9.999% of capital) in Momina Krepost AD through Sofia International Securities AD. Separately, amendments to the Rules of Structure and Operation of the Guarantee Fund were adopted at second reading with promulgation in the State Gazette pending, and Quantum Family-Office EOOD’s application for a crypto-asset services provider licence was not taken forward for substantive review because the documentation and information submitted were incomplete.
Bulgaria Financial Supervision Commission 2026-02-12
Bulgaria Financial Supervision Commission approves Team-98 Holding EUR 23 million bond prospectus and declines to review an incomplete crypto-asset licence application
The Bulgaria Financial Supervision Commission approved Team-98 Holding AD’s EUR 23 million bond issue, authorised two new mutual funds, and registered Smart Organic AD’s new share issue, while suspending a tender offer for Momina Krepost AD and declining a crypto-asset licence request due to incomplete submissions. Additionally, amendments to the Rules of Structure and Operation of the Guarantee Fund were adopted, awaiting publication in the State Gazette.