The Bulgaria Financial Supervision Commission adopted a package of authorisation and supervisory decisions, including approving the prospectus for Metizi AD’s initial public offering and granting European Insurance Company AD a licence extension to write additional vessel damage and vessel-related civil liability insurance. It also confirmed it will apply new EU-level supervisory guidelines and set the minimum yield for mandatory pension funds for the 31 March 2023 to 31 March 2025 reference period. Metizi’s offer covers up to 937,756 ordinary registered dematerialised voting shares at a nominal and issue price of BGN 1.00 per share (ISIN BG11MEROAT18), and the issue was entered in the register of public companies and other securities issuers as being in the process of issuance. The insurer’s licence extension covers damage or loss to river and canal, lake and seagoing vessels, as well as civil liability arising from their use, including carrier liability. The Commission approved Lyubomir Lambrev and Iva Alexandrova as new board members of Bulgarian Receivables Fund REIT and ELANA Agricultural Land Fund REIT, respectively, and admitted candidates to broker (17 May 2025) and investment consultant (18 May 2025) examinations, with an exam fee of BGN 450 per exam payable by 9 May 2025 and the venue to be announced after the final list is prepared. Supervisory practice will align with European Securities and Markets Authority guidelines on stress test scenarios under the Money Market Funds Regulation and joint European Supervisory Authorities guidelines on information exchange for fit and proper assessments of qualifying holdingholders, directors and key holders; the Commission also requested additional information from Elana Fund Management AD in connection with a permit to organise and manage a national investment fund.

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