site.btaBulgarian Stock Exchange Presents Annual Awards

The Bulgarian Stock Exchange (BSE) honoured investment intermediaries, banks and public companies that achieved the highest results in 2025 at an official ceremony held in Sofia on Thursday. The BSE Annual Awards were presented for the 25th time.

Addressing the ceremony, outgoing Deputy Finance Minister Metodi Metodiev said that the awards are not just recognition, they are a sign of maturity, showing that the market knows how to measure success and turn it into a benchmark for future development. He stressed that euro area membership is a realized strategic goal and a key prerequisite for faster economic growth. In the long term, Bulgaria’s main challenges remain attracting investment, improving education and addressing demographic issues, Metodiev added.

Financial Supervision Commission (FSC) Chair Vasil Golemanski said that one of the main reasons for the high growth rate of the Bulgarian capital market since the beginning of the year is euro area membership and the work of institutions in line with European standards. He expressed optimism for 2026, forecasting that the BSE’s main index, SOFIX, has the potential to exceed 2,000 points and that stock exchange turnover could surpass EUR 1 billion.

BSE Executive Director Manyu Moravenov noted that the past year has laid a solid foundation for setting new records. According to him, SOFIX has been the world’s leading index by growth since the beginning of the year. He emphasized that there can be no successful economy without a developed capital market and that Bulgaria should seize the current historic moment to create more examples of successful public companies. Moravenov recalled that BSE turnover in 2025 reached EUR 611 million, funds raised amounted to EUR 710 million, and SOFIX posted a 30% year-on-year increase, reaching a 17-year high.

The award for investment intermediary with the largest turnover in 2025 went to ABV Investments Ltd (BGN 242.5 million turnover), followed by Euro-Finance AD (BGN 229.1 million) and Central Cooperative Bank AD (BGN 228.8 million). The awards were presented by outgoing Deputy Finance Minister Metodiev.

The distinction for investment intermediary with the largest number of trades in 2025 was awarded to Karoll AD (64,902 trades), with Elana Trading AD (31,425 trades) and Benchmark Finance AD (17,516 trades) taking second and third place. The awards were presented by FSC Chair Golemanski.

The awards "Investment intermediary with the largest turnover and number of trades on the beam market in 2025" and "Investment intermediary with the highest turnover and largest number of trades on the Multilateral Trading Facility (MTF) BSE international market in 2025" were presented to Karoll AD, which reported BGN 10.8 million turnover and 7,870 trades on the beam market, and BGN 38.6 million turnover and 3,540 trades on the MTF BSE International market. The awards were presented by Hristina Pendicheva, member of the BSE Board of Directors.

The awards for investment intermediary with the highest activity in working with issuers in 2025 went to Ug Market EAD, Focal Point Investments AD and Sofia International Securities AD. The distinctions were presented by Radoslav Zhelyazov, Director of the Listing and Membership Directorate at the BSE.

The award for most liquid issuer on the BSE in 2025 was given to Shelly Group AD (7,081 trades), followed by Sopharma AD (6,570 trades) and BSE AD (4,139 trades). The first two companies were awarded by Alexandrina Gyurova, Director of Trading at the BSE, while Golemanski presented the award to BSE AD. 

The distinction for most liquid issuer on the standard segment of the main market in 2025 was presented to Doverie United Holding AD, with Eleven Capital AD and Smart Organic AD ranking second and third. The award was presented by Radoslava Maslarska, Chair of the Management Board of the Bulgarian Association of Licensed Investment Intermediaries and member of the BSE Board of Directors.

The award for issuer raising the largest capital on the beam market in 2025 went to Webit Investment Network AD, which raised BGN 12.1 million.

The distinction for bond issuer with the highest value of issues admitted to trading on the regulated market of the BSE in 2025 went to TBI Bank AD, with issues worth EUR 94 million.

The award for SOFIX Index issuer with the largest price increase in 2025 was given to Sirma Group Holding AD, which recorded a 90% rise over the period. The distinction was presented by BSE Executive Director Moravenov.