The day in 3 news: Sofia on the cusp of the Eurozone; Green Innovation’s IPO plans: Hydrogenera eyes 2025 listing; Trakia is accident hotspot

Капитал

The day in 3 news: Sofia on the cusp of the Eurozone; Green Innovation’s IPO plans: Hydrogenera eyes 2025 listing; Trakia is accident hotspot

Капитал

© Капитал


Bulgaria's path to Euro adoption: Inflation criterion in focus

Bulgaria has yet to fully meet the inflation criterion for euro adoption as of December 2024, with its 12-month average inflation exceeding the target by 0.15 percentage points. Requirements stipulate that inflation should not surpass the average of the three EU countries with the lowest inflation by more than 1.5 percentage points, but current data show Bulgaria narrowly missing this threshold.

However, trends indicate that Bulgaria is likely to meet the criterion in January 2025 due to the base effect, as high-inflation months from early 2024 fall out of the calculation. Once compliance is confirmed, Bulgaria could request an extraordinary convergence report and potentially secure approval for eurozone entry.

Bulgarian green business to go public

Green Innovation, the company behind the Hydrogenera brand, plans to go public on the Bulgarian Stock Exchange (BSE) in 2025, according to sources and filings in the Commercial Register. The company intends to offer 500,000 new shares through its initial public offering, though the issuance price and fundraising target are yet to be determined by its board of directors.

Recent private equity investments valued the shares at 11.85 levs each, which, if matched during the IPO, could raise approximately 6 million levs and value the company at 54 million levs. The prospectus for the offering is currently being prepared, with financial supervision and management led by the investment intermediary Karoll.

Trakia - a highway of woes

Last summer and, specifically, August 8, 2024, marked the peak of accidents on Bulgaria's busiest highway, Trakia, with six incidents reported before noon alone. Throughout the first days of August, the highway saw over 30 accidents, many resulting in severe injuries or long traffic jams.

Traditionally, summer traffic increases due to holiday travelers and migrant workers commuting from Germany to Turkey, but officials note that such patterns now extend beyond the summer months. As traffic intensity grows year-round, so does the frequency of accidents, with no season proving less hazardous for Bulgaria's main transport artery.

Bulgaria's path to Euro adoption: Inflation criterion in focus

Bulgaria has yet to fully meet the inflation criterion for euro adoption as of December 2024, with its 12-month average inflation exceeding the target by 0.15 percentage points. Requirements stipulate that inflation should not surpass the average of the three EU countries with the lowest inflation by more than 1.5 percentage points, but current data show Bulgaria narrowly missing this threshold.

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