FINANCIAL REGULATOR NODS TO SOPHARMA'S LISTING ON WARSAW STOCK EXCHANGE

Bulgaria's Financial Supervision Commission (FSC) has approved the planned listing of domestic pharmaceuticals producer Sopharma on the Warsaw Stock Exchange (WSE), the regulator said on October 21 2011.

The company announced plans to float on the Polish bourse more than a year ago. Sopharma submitted for approval its prospectus for floating on WSE in May.

The listing does not stipulate an increase in the company's capital, with Sopharma's shares to be registered for trading on the stock market.

Sopharma will be the third Bulgarian company to carry out a secondary public offering (SPO). Currently, financial and industrial group Eurohold Bulgaria is wrapping up its capital hike, which will allow it to list on WSE.

In August 2010, real estate investment trust (REIT) InterCapital Property Development raised 3.6 million leva through its Warsaw listing. Meanwhile, car battery maker Monbat has also announced plans to float on the Warsaw or Frankfurt bourses.