The Bulgaria Financial Supervision Commission (FSC) published decisions from its meeting approving the prospectus for Premier Fund REIT’s initial public offering of warrants and entering the issue in the register of public companies and other issuers of securities. The meeting also covered REIT governance approvals, changes to the securities register, scheduling of market-professional aptitude exams, cross-border insurance mediation notifications, and requests for additional information in several pending authorisation processes. The approved warrant issue covers up to 1,000,000 dematerialised, registered, freely transferable warrants with an issue value of BGN 0.01 each (ISIN BG9200008241). The warrants entitle holders, within five years, to subscribe shares of the underlying asset at an issue value of BGN 14.50 per share, with a 1:1 warrant-to-share conversion ratio. Separately, the FSC approved Nikola Petrinin and Evgeni Tashev as new members of the Board of Directors of Balkan Property Instruments REIT and approved amendments to the statute of BPD Industrial Real Estate Fund EADREIT. It also removed from the register a Texim Bank AD bond issue of BGN 22,000,000 (22,000 ordinary, unsecured, dematerialised, registered, interest-bearing, freely transferable, convertible bonds with nominal value BGN 1,000 each; ISIN BG2100007207). Aptitude exams were scheduled for broker of financial instruments (May 17, 2025) and investment consultant (May 18, 2025), with the procedure, thematic synopses and evaluation rules published on the FSC website. The FSC also notified EU and EEA competent authorities regarding GRECO BULGARIA EOOD’s intention to provide insurance mediation under the freedom to provide services, and requested additional information and documents in connection with (i) DSK Asset Management AD’s permit for the organisation and management of a mutual fund, (ii) Bluesmart Investments AD’s approval for an executive board member, (iii) Tereza Trifonova’s intention to acquire an indirect qualified participation in Serdika Capital AD, and (iv) Investingfox Ltd.’s registration as a tied agent.
Bulgaria Financial Supervision Commission 2025-02-12
Bulgaria Financial Supervision Commission approves Premier Fund REIT prospectus for up to 1,000,000 publicly offered warrants
The Bulgaria Financial Supervision Commission approved Premier Fund REIT's IPO prospectus and made governance changes. It approved new board members for Balkan Property Instruments REIT and amended BPD Industrial Real Estate Fund EADREIT's statute. The FSC scheduled aptitude exams, notified EU and EEA authorities about GRECO BULGARIA EOOD's insurance mediation plans, and requested more information for pending authorisations.