SOFIA (Bulgaria), May 19 (SeeNews) – Bulgarian software developer Sirma Group Holding [BUL:SGH] expects to join in early 2026 the EuroBridge dual listing segment of the Bulgarian Stock Exchange, enabling simultaneous trading on both the Sofia and Frankfurt stock exchanges, CEO Tsvetan Alexiev said on Monday.
The company has started the administrative process for the dual listing, which will take several months, and has appointed local wealth management firm Expat Capital as consultant on the deal, Alexiev said at a business breakfast.
This dual listing will boost Sirma’s visibility, credibility and market valuation, making it easier for the company to make deals with its global partners and improving liquidity.
“We have a year and a half to two years of work ahead of us on the Frankfurt Stock Exchange until the German investment community, which is not that large, gets to know us,” Alexiev said. “We need to build trust on the exchange, and only after this period do we expect trading volumes in Frankfurt to surpass those in Sofia.”
In 2024, Sirma’s consolidated revenue grew by an annual 24% to 100 million levs ($57.2 million/51.1 million euro), with sales in Europe jumping 29% to 71 million levs. This year, the company is targeting at least 20% revenue growth, with plans to reach 100 million euro in annual revenue within the next two to three years.
The company also plans to raise capital on the Frankfurt Stock Exchange in the coming years to fund future acquisitions.
Sirma is eyeing European software firms with annual revenues between 5 million and 20 million euro and teams of 100 to 300 people, operating in strategic sectors such as finance, insurance, healthcare, transport and logistics, hospitality and mechanical engineering. However, suitable acquisition targets have been limited, as many potential candidates are underperforming.
Last July, Bulgarian IoT products maker Shelly Group [BUL:SLYG; FRA:SLYG] became the first company to start trading on the EuroBridge segment of the Sofia bourse.
As of 1500 CEST on Monday, shares in Sirma Group Holding traded flat at 1.20 levs on the Bulgarian Stock Exchange. Over the past year, the stock has gained 36.4% in value.
(1 euro = 1.95583 levs)