Bulgarian river shipping company gets feet wet on local bourse _x000d_

10.03.2005 Source: Dnevnik

Shares of the Bulgarian River Shipping Corporation (BRSC) changed hands on Wednesday, March 9, for the first time after 30% of the company were listed on the Bulgarian stock exchange more than a year ago. A total of 3,512 BRSC shares were traded in two separate transactions in the pit on Wednesday, fetching an average of 14.28 levs. The absence of prior bourse transactions with BRSC meant the stock opened at 1 lev, the nominal value of the shares, and was able to record the astonishing daily gain of 1,328%. Market watchers ascribed the sudden coming to life of the dormant stock to the fact that the procedure for the privatisation of the state's 70% stake in the river shipping company is expected to get underway later this month. Elsewhere, the general stock market lacked direction on Wednesday. The blue chip SOFIX tacked on 0.34% to end at 904.43 while the broader BG40 was 0.46% higher at 132.31. Drug maker Sopharma and cigarette maker Blagoevgrad BT led the rally, climbing 3.78% and 3.58%, respectively. Albena was the top gainer among the resort stocks, inching 1.97% higher to 94.38 levs. The other two public traded sea resorts closed in negative territory with Zlatni Pyasatsi dipping 1.13% and Slanchev Bryag falling 6.15%. Going the wrong way were also fertiliser plant Neochim, down 7.13%, and the Central Co-operative Bank, down 2.2%.