Bulgaria Financial Supervision Commission approved prospectuses for the admission to trading on a regulated market of three secured bond issues and for the initial public offering of shares by Glenmoor Capital REIT, and entered the relevant issuers and securities into its register of public companies and other securities issuers. The meeting also delivered decisions on an insurance broker registration, exemptions from investment intermediary licensing for certain trading activities, cross-border crowdfunding notifications, and the Commission’s stance on two European Banking Authority guidelines on restrictive measures. The approved bond prospectuses cover A.M.K. Commerce AD’s EUR 13,000,000 issue (13,000 dematerialised registered bonds; ISIN BG2100044242) with a floating annual coupon of six-month EURIBOR plus 1.75% subject to a 3.00% floor and 6.00% cap, issued on 06.11.2024 and maturing on 06.11.2032, Bio Agro Company AD’s BGN 25,000,000 issue (25,000 bonds; ISIN BG2100049241) with six-month EURIBOR plus 1.25% subject to a 3.00% floor and 5.00% cap payable semi-annually, issued on 18.11.2024 and maturing on 18.11.2032, and Adamant Capital Management EAD’s BGN 24,000,000 issue (24,000 bonds; ISIN BG2100032247) with six-month EURIBOR plus 1.50% subject to a 2.50% floor and 5.50% cap, issued on 24.07.2024 and maturing on 24.07.2032. For Glenmoor Capital REIT, the FSC approved a prospectus for an IPO of up to 650,000 dematerialised registered voting shares (nominal value BGN 1; issue price BGN 2; ISIN BG1100006177) and recorded the issuance for trading on a regulated market. PRIME BROKERS LTD was entered into the register of insurance brokers, while Axpo Bulgaria EAD, EVN Bulgaria Toplofikatsia EAD and Electrohold Trade EAD were exempted for 2025 from the obligation to be licensed as investment intermediaries in connection with trading in commodity derivatives, emission allowances, or their derivatives under Article 5 of the MFIA. Notifications were sent to competent authorities across multiple EU Member States and Switzerland regarding Afranga EOOD’s intention to provide crowdfunding services, and the FSC decided not to comply in its supervisory practice with EBA/GL/2024/14 and EBA/GL/2024/15 on internal policies and controls for the application of restrictive measures. Separately, the FSC requested additional information and documents from Varchev Management Company EAD in connection with the approval of a member of its board of directors, and confirmed the completeness of Quart Fund AD’s application for a licence to operate as a crowdfunding service provider.

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