Allterco Started Trading on the Frankfurt Stock Exchange

Expat Capital’s client is the first Bulgarian company whose stocks have been admitted to trading directly on a foreign regulated market

On November 22, 2021, the opening bell on the Frankfurt stock exchange rang for the Bulgarian company Allterco. The first day of trading in Frankfurt started with a great interest, and within the first two hours of the opening, the share price rose by over 6%. Currently, Allterco’s market capitalization is estimated at 277.2 million euro, making it the third largest company in the Bulgarian SOFIX Index.

Allterco is the first and only Bulgarian company with direct double listing on a foreign regulated market, which allows shares to be bought in Sofia and sold in Frankfurt and vice versa on the same day.

The Frankfurt Stock Exchange is the largest capital market within the European Union. We are happy that as a result of Expat Capital’s efforts as a listing consultant of Allterco, the company has gained access through Frankfurt to investors from all over the world, which guarantees significantly better prospects for attracting capital for mid-term development. Allterco is one of the most perspective and quickly developing technology companies in Bulgaria, which creates innovations by projecting, producing and distributing high quality IoT solutions and products.

The registration process for trading on the official market in Frankfurt included establishing many relationships with important new partners, registration of shares for safekeeping and settlement in international depositories, and going through due diligence procedures of organizations such as Clearstream Banking and Deutsche Boerse. We are glad that together with Allterco, we managed to go through the entire process, and we greatly appreciate the company’s trust in our proven infrastructure, experience and expertise in similar projects.

Expat Capital remains committed to its mission in opening the Bulgarian capital market to the world and to provide access to international markets to other quality Bulgarian companies as well. In 2022 with our participation, we expect other Bulgarian companies to be listed for trading in Frankfurt. Companies that are interested and want to learn more about the opportunity to be traded in Frankfurt or London, may contact Expat’s team for more information.

We remind that Expat Asset Management is the first Bulgarian issuer in Frankfurt – with 11 exchange traded funds managed by the company, which have been traded on the Deutsche bourse since 2018. Expat’s ETFs are designed to provide international investors diversified and liquid exposure to the countries in the CEE region. The funds passively follow the movement of major stock indices from Poland, the Czech Republic, Slovakia, Hungary, Slovenia, Croatia, Serbia, Northern Macedonia, Romania, Bulgaria and Greece. All of them are traded simultaneously in Sofia and Frankfurt, and some of them are also listed in London and Ljubljana. The trading on several European stock exchanges, including the financial centres of London and Frankfurt, ensures that international investors have an easy and cost-effective way to control their exposure to specific countries in the region, overcoming deficiencies such as the lack of liquidity, lack of access, cross-border settlement issues, high execution costs, large spreads, and other technical factors typical for many of these markets.