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17-03-2017 - Information by BSE-Sofia (Press release by BSE-Sofia)

Today, 17 March 2017, Bulgarian Stock Exchange Sofia was notified by the Financial Supervision Commission on the results of the inspection aimed at clarifying the mechanism for calculating the SOFIX Index.
The management of the Exchange is of the opinion that there are no preconditions for revising the decision concerning the composition of the index for the next six-month period in effect as of 20 March 2017.
It is acknowledged that according to the rules the data are taken from different sources and institutions and because of the long statutory period of about two months of registration of the capital increase after its raising, it is possible the capital of a company to be differently reflected in different sources until finalisation of the capital increase procedure. In order this possibility to be admitted in the index calculation rules, some adjustments of the rules are necessary as well as of the procedure defined by law for registration of the capital increase of a public company.
BSE-Sofia accepts the findings of the FSC on the need of detailed explanations of the methodology and will comply with them by preparing a draft of new rules within a month. The project will further detail the way of processing of corporate events including capital increases stretched over a longer period and the emerging differences in the records of the institutions.
In parallel with the changes and in accordance with the recommendations of the FSC, additional criteria will be proposed to be introduced concerning the selection of the individual index components providing a better opportunity the index to be followed, on which BSE-Sofia is working since December last year. The project will be coordinated with all stakeholders upon completion.