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Popularising the corporate governance principles and encouraging the public companies in Bulgaria to adopt them is a part of the long term policy of Bulgarian Stock Exchange – Sofia for increasing the confidence of the domestic and international investors, as well as of the general public, in the management of the companies traded on the Bulgarian capital market.

BSE-Sofia believes that the improvement of the corporate governance quality of the companies in Bulgaria is essential for strengthening their competitiveness and attracting foreign investors.

Bulgarian Code For Corporate Governance (as of February 2012)

Rules for calculating the index of the companies having good corporate governancå

Therefore, BSE-Sofia was among the initiators and one of the most active participants in the development of the National Corporate Governance Code in 2006 and 2007. Over a period of one year a Task Force comprised of representatives from the Bulgarian business community, government and non-government organizations, and the academic community worked jointly to make the Code a reality.

The final text of the Code included recommendations from Bulgarian and international experts. The National Corporate Governance Code was officially presented on 10 October 2007.

BSE-Sofia believes that the National Corporate Governance Code is a step forward in the establishment of contemporary rules and norms of the public companies’ management in Bulgaria. In that connection, on 17 October 2007 the Board of Directors of BSE-Sofia took a decision to adopt the National Corporate Governance Code, thus replacing the existing Corporate Governance Code of BSE-Sofia.

According to BSE-Sofia Rules and Regulations, issuers willing to be admitted to trading on the BSE Main Market, “Premium” Equities Segment, are obliged to carry out their activity in conformity with the National Corporate Governance Code, approved by the Exchange. Adoption and implementation of the Code by the companies, traded on the other markets and market segments, is recommendable and depends on their own choice.

List of the public companies that have declared to comply with the principles of the National Corporate Governance Code is available below.

    Advance Invest AD-Sofia
    Agria Group Holding AD-Varna
    Aktiv Properties REIT-Plovdiv
    Albena AD-Albena
    Albena Invest Holding AD-Albena
    Alfa Property 1 REIT-Sofia /in liquidation/
    Alteron REIT-Varna
    Arteks Engineering AD-Sofia
    Billboard AD-Sofia
    Bulgarian River Shipping AD-Ruse
    Bulgarian Stock Exchange-Sofia
    Bulgarska Roza-Sevtopolis AD-Kazanlak
    Bulvesta Holding AD-Sofia
    CB Bulgarian American Credit Bank AD-Sofia
    CB Central Cooperative Bank AD-Sofia
    CB Corporate Commercial Bank AD-Sofia
    CB First Investment Bank AD-Sofia
    CBA Asset Management AD-Veliko Tarnovo
    Chimimport AD-Sofia
    Doverie United Holding PLC-Sofia
    Enemona AD-Kozloduy
    Eurohold Bulgaria AD-Sofia
    Euroterra Bulgaria AD-Sofia
    FairPlay Properties REIT-Sofia
    Holding Nov Vek AD-Sofia
    Holding Roads-Sofia
    Holding Varna AD-Varna
    Industrial Holding Bulgaria PLC-Sofia
    Investor.BG AD-Sofia
    Kaolin AD-Senovo
    Katex AD-Kazanlak
    Lead and Zinc Complex PLC-Kardzhali
    Men Investment Group AD-Sofia
    Monbat AD-Sofia
    Moststroy AD-Sofia /in bankruptcy/
    Nash Dom Bulgaria Holding AD-Sofia
    Nikrom Trabna Mebel AD-Lovetch
    Odessos Shiprepair Yard AD-Varna
    Oil and Gas Exploration and Production AD-Sofia
    Optela AD-Plovdiv
    Petrol AD-Sofia
    SAF Magellan AD-Sofia
    Serdika Properties REIT-Sofia
    Sopharma AD-Sofia
    Sparky AD-Ruse
    Sparky Eltos AD-Lovech
    Stara Planina Hold AD-Sofia
    Svilosa AD-Svishtov
    Synergon Holding AD-Sofia
    Technology and Innovation Corporation AD-Plovdiv
    Trace Group Hold AD-Sofia
    Velgraf Asset Management AD-Sofia