site.btaBulgarian Stock Exchange Launches New beamX Index for Startups

The Bulgarian Stock Exchange (BSE) is launching the new stock index beamX, composed of companies on the beam growth market, the BSE said on Tuesday.

The BSE Board of Directors approved the first issues that will be part of the base of the new index. It will begin to be calculated from September 18. The starting value will be 100 points.

BeamX will include the first 10 companies from the market for small and medium-sized companies, ranked according to the following 4 criteria with equal weight: market value of the so-called free-float; number of transactions for the last 6 months; turnover for the last 6 months; and number of shareholders.

The Beam market was launched in early 2021 and has since attracted 16 companies that have raised over BGN 50 million. Successful public supply is a signal that investors recognize the market as an attractive opportunity for their investments, the statement noted.