ELANA Trading Bulgaria - Corporate Profile 2015 (EN language)

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Recognized experience and innovation

ELANA Trading is one of the first licensed Bulgarian brokers - started operations back in 1991.

As a licensed investment intermediary ELANA Trading offers a wide portfolio of services and products for trading on local and international financial markets as well as in investment banking. Positioned for two decades in top 3, the broker has been awarded 14 national annual awards and has received a series of nominations.

The company started brokerage operations 24 years ago as the first enterprise of the current ELANA group - one of the largest groups in the non-banking financial sector with leading position in the areas of financial markets’ services, asset management, EU funding consultancy, farm land investment and financial services related to agricultural sector, renewable energy investment, public funds management.

ELANA group has established itself as an innovative institution in Bulgarian finance and investment, holding the responsibility for a series of start ups in the sector, such as founding some of the first mutual funds, managing the first public offering on the Bulgarian Stock Exchange as well as implementing first corporate bond issue, establishing the first fund for investing in agricultural land, being selected to be the first private fund manager of a public financial institution.


Preferred Bulgarian partner

Exclusive partner for Bulgaria of the US Auerbach Grayson & Co. since 1998Part of brokers’ network on 130 markets worldwide.

Long-term partner of online trading leader Saxo BankCooperation since 90s. White label partner for Saxo Bank online trading platform as ELANA Global Trader since 2010.

Mandated by European Bank for Reconstruction and Development (EBRD) since 2002 for a series of M&A projects in Bulgaria.

Other traditional partners include:Deutsche Bank, Merryll Lynch, Barclay’s Capital, UBS, Raiffeisen Bank International, UniCredit Bank, DZ Bank AG, Royal Bank of Scotland, Royal Bank of Canada, Societe Generale London, VTB Capital, Tradition Financial London, Finacor, Carl Kliem Luxembourg, Jefferies International, KBC Securities, Cowen Group.


Financial markets coverage


Local partnerships

Full license for local and global financial markets trading Licensed by the Bulgarian Financial Supervision Commission since the introduction of the local Securities’ Law.

Member of the Bulgarian Stock Exchange.

Member of the Central Depository AD.

Member of the Bulgarian Association of Licensed Investment IntermediariesELANA Trading Chairperson Radoslava Maslarska is a member of the Board of the association.

Member of the Confederation of Employers and Industrialists in Bulgaria (CEIB)The largest business organisation in the country. ELANA Trading Deputy Chairman Kamen Kolchev is a member of CEIB committees of Finance and Energy .


Full service provider: Local & International Trading

Focus on Institutional investorsELANA Trading provides a wide range of services to institutional investors from US and Western Europe in facilitating their investment on the Bulgarian stock market. Investors are provided with brokerage and regular and thorough research services as well as organisation of conference calls and personal meetings with CEOs of Bulgarian public companies.

Trading on the Bulgarian Stock Exchange – Sofia (BSE)Brokerage services and online trading products – offers own Internet-based trading platform ELANA BG Trader and BSE-developed COBOS trading platform for all instruments traded on BSE. Awarded The Best Bulgarian Broker 2014, 2013 and 2010 via national brokerage ranking. Traditionally awarded for annual contribution in deals on Bulgarian Stock Exchange since 2005.

Online trading with over 30 000 instruments on global financial markets 24-hours access to trading with FX, CFDs, ETFs, stocks, futures, options and other derivatives via online trading platforms ELANA Global Trader and ELANA MetaTrader.

Cash equity services for institutional investors - 130 markets.


Fixed income & Money Markets Primary and secondary bond market (government, municipal, corporate, mortgage, global bonds).

Research and Analysis Professional research on the Bulgarian stock market. Provision of market and company reports for local and international investors. Analysts’ team considered by local media as number one choice expert opinion on the topics of economy development and financial markets. Research reports are published by Thomson Reuters, Bloomberg, Standard & Poor’s Capital IQ, Factset and other financial information companies.

Full service provider: Local & International Trading


17 years of experience with notable projects in structuring and placement of equities and bonds. Managed the first IPO and the placement of the first corporate bond issue in the country. More than 30 bond issues for the last 15 years. 20 IPOs and SPOs since 1998 (the start of local

licensed stock exchange). Awarded for contribution to the development of the Bulgarian investment banking in 2005 and 2007

by the Bulgarian Stock Exchange. Annual prize for The Best IPO of 2013.

Full service provider: Investment Banking

Projects Highlights

ECM

(2006) Managed the IPO of MONBAT - the leading producer of automotive batteries in Bulgaria (EUR 16m raised).

(2007) Managed the capital increases of the ELANA Agricultural Land Opportunity Fund REIT – the first agricultural REIT in Bulgaria (EUR 50m raised).

(2014) Managed the capital increase of SPEEDY – the leading Bulgarian courier service provider (EUR 10m raised).

DCM

Placed over 30 corporate, municipal and mortgage bond issues for more than EUR 400m.

M&A

(2010; 2014) Managed some restructurings of the leading Bulgarian pharmaceutical group Sopharma.

(From 2002 onward) Mandated by the EBRD for M&A projects.

(2002) Managed the restructuring of the leading copper ore processing company in Bulgaria – Ellatzite MED.


Market position: 24 years in top 3

Top 5 by turnover on the Bulgarian Stock Exchange 2014

(EUR mln.)

Shares of Top 5 by deals on the Bulgarian Stock Exchange 2014

Source: Bulgarian Stock Exchange, 31.12.2014

Karoll Fi-nance; 27%

ELANA Trading;

14%

Benchmark Finance; 9%

First In-vestment Brokerage House; 5%

Capman; 4%

Sofia Inter-national Se-

curities; 112.40

First Invest-ment Bro-

kerage House; 102.30

Corporate Commercial

Bank; 101.40 -

bankruptupt at the end of

2014

ELANA Trad-ing ; 74.70

Euro Finance; 59.00


Management

Chairperson of the BoardRadoslava Maslarska

Radoslava Maslarska is the Board Chairperson of ELANA Trading since 2010. Her career in finance started in ELANA back in 2001 when she joined the company as an associate at the International Markets Department. Later she became dealer on international markets and in 2004 she was promoted as the head of the department. In 2007 she took over as the Executive director of the company. Radoslava Maslarska graduated Finance and Banking at Sofia University. She holds a license for investment consultant by the Bulgarian Financial Supervision Commission.

Deputy ChairmanKamen Kolchev

Kamen Kolchev is the Chairman of the Board of Directors and CEO of ELANA Financial Holding – the majority owner of ELANA Trading. He is the founder of ELANA back in 1991 and currently majority shareholder of the group. Kamen Kolchev had been actively involved in shaping the newly emerged local financial market in 1990s by providing expertise for the development of the new legislation and regulatory bodies. He is currently a member of the Board of the Confederation of Employers and Industrialists in Bulgaria. Graduated Mathematics at Sofia University. Capital markets and corporate governance specialisation programme in New York and Prague.


Management

Board memberMomchil Tikov – Executive Director

Momchil Tikov is the Executive Director of ELANA Trading since 2010. He joined ELANA Trading team in 2006 as the Head of Financial Department of the brokerage. He used to be CFO at local asset managers and pension funds. Momchil Tikov graduated Finance at the University of National and World Economics – Sofia. He holds an auditor’s license by the Institute of Chartered Accountants.

Board memberMiroslav Stoyanov – Head of Investment banking

Miroslav Stoyanov is the Head of the Investment Banking Department since 2005. He joined ELANA group team in 2004 as a corporate finance project manager at the consultancy company ELANA Investment. Before his assignment at ELANA he used to work as the financial manager of an international advertising agency. Miroslav Stoyanov graduated Corporate Finance at the University of National and World Economics – Sofia.


ELANA Trading: Recognition

Prizes by the Bulgarian Stock Exchange from 2006 to 2013. Contribution to local stock market by number of deals.

The Best Bulgarian Broker 2010, 2013 and 2014.Awarded for ranked No.1 by The Banker annual ranking of local brokerages market performance.

ELANA AgroCredit was awarded The Best IPO of 2013 by the Bulgarian Stock Exchange.IPO managed by ELANA Trading.

Awarded in 2005 and 2007 by BSE for contribution to the development of local investment banking.Contributed by number of IPOs and bond issues on the local market.

ELANA Trading FX online trading platform ELANA Trader 2.0 was awarded The Financial Product of 2003. Award at the International Financial Exhibition Banks, Investments, Money in 2004.


A Family of Leading Market Players

ELANA Financial Holding is the financial arm of ELANA Group. The holding structure comprises:

ELANA Fund Management One of the first fund managers in the country, established the first local funds. Managing 6 mutual funds with diverse investment strategies and individual portfolios. 13 years in the lead of the mutual funds market, currently in top 5 of the market, managing

approx. EUR 35 mln. of assets.

ELANA Trading One of the first licensed brokers in the country. 24 years stirring the novelties in brokerage and investment banking Maintaining a market position in top 3 of local brokers.

ELANA Investment One of the leading consultants to Bulgarian entrepreneurs and public administration in

acquiring investment through EU funding – 16 years of successful EU-funded investment projects.

Approx. 300 projects approved for funding within Structural funds and pre-accession programmes – approx. 500 companies and municipalities have received aid amounting at over EUR 110 mln.


ELANA Holding is the “green investment” arm of ELANA Group. It includes the businesses related to energy efficiency, renewable energy and agricultural sector. Comprises of public fund management projects and own developed businesses:

Fund Management of the Bulgarian Energy Efficiency and Renewable Sources Fund (BEERSF) ELANA Holding is part of the consortium appointed in 2005 by the World Bank for BEERSF fund

management, which made it the first private manager of a public financial institution in Bulgaria.

BGEERSF was set to facilitate energy efficiency investments in Bulgaria with funding from UN&WB Global Environmental Facility, the Government of Austria and the Government of Bulgaria. Offers low-interest loans and guarantees to energy efficiency projects of municipalities, companies and individuals.

Regional Urban Development Fund (RUDF) – fund management ELANA Holding is a shareholder within the consortium that manages RUDF – the financial product

of the urban development instrument JESSICA according to an agreement with the European Investment Bank.

The consortium includes the leading shareholder Societe Generale Expressbank, ELANA Investment, ELANA Holding and Balkan Advisors. BGN 110 mln. are planned for investment by 2015 in urban development of the 6 major cities in Bulgaria.



ELANA Holding is the “green investment” arm of ELANA Group. It includes the businesses related to energy efficiency, renewable energy and agricultural sector. Comprises of public fund management projects and own developed businesses:

ELANA AgroCredit Financial leasing on agricultural land or lending to agricultural producers who would like to buy the

land they work on. The company was founded by the team who created and developed successfully the first REIT in

agricultural land in the country – former ELANA Agricultural Land Opportunity Fund – it brought over 150% return to its investors in its time frame of 2005-2013.

Planned annual dividend yield for investors 10-12%; planned growth of assets of BGN 100 mln. by 2016.

Awarded by the Bulgarian Stock Exchange The Best IPO in 2013.

ELANA Energy Management The renewable energy division of ELANA – develops and manages the renewable energy projects. Over 30 photovoltaic projects were developed or are in a process of development. Two wind projects awarded Class A Investor Certificate by the Bulgarian Investment Agency/

Ministry of Economy, Energy and Tourism.



ELANA Group Industry and National Awards

ELANA Trading – The Best Bulgarian Broker 2014Awarded for ranking first within the annual ranking of Bulgarian brokerages by The Banker Weekly.


ELANA AgroCredit – The Best IPO in 2013Awarded by the Bulgarian Stock Exchange for contribution to the development of the local stock market. IPO managed by ELANA Trading.

ELANA Balanced EUR Fund - BNE Best Balanced Fund 2013Ranked among CEE funds by annual return of 18.5% by Business New Europe magazine.


ELANA Cash Fund (former ELANA Money Market Fund) – BNE Best Fixed Income Fund 2009 Ranked by Business New Europe magazine as 2009 Best Fixed Income Fund among funds investing in CEE and CIS.


ELANA Trading was granted the 2006 to 2012 annual prizes by the Bulgarian Stock Exchange.Top 3 brokerage by number of deals on the local stock market.

ELANA Fund Management was awarded The Asset Manager of the Year 2006 to 2009.The annual national rankings of the industry by The Banker Weekly.

ELANA Cash Fund (former ELANA Money Market Fund) - Investment Product 2007. Awarded at the International Financial Exhibition Banks, Investments, Money in 2008.

ELANA Agricultural Land Opportunity Fund REIT – Best Corporate Governance 2007 The REIT was awarded by the Bulgarian Association of Investors.

ELANA Agricultural Land Opportunity Fund REIT - Financial Product of 2005 ELANA Holding was awarded for the innovative product at the International Financial Exhibition Banks, Investments, Money.



ELANA Trading – BSE awards for investment banking in 2005 and 2007. Annual prizes by the Bulgarian Stock Exchange for contribution to investment banking.

ELANA Trader 2.0 – Financial Product of 2003The FX trading platform of ELANA Trading was awarded at the International Financial Exhibition Banks, Investments, Money.

ELANA Eurofund – Financial Product of 2003 ELANA Fund Management was awarded for the first mutual fund on the market by the International Financial Exhibition Banks, Investments, Money.



Address:

Sopharma Business Towers5, Lachezar Stanchev St., Tower BSofia 1756, Bulgaria

Tel.: +359 2 81 000 20Fax: +359 2 95 815 23E-mail: [email protected]

Senior Analyst Bulgarian Stock Market Tatyana Puncheva-VasilevaTel.: +359 2 81 000 24E-mail: [email protected]

Web:

Corporate website:http://www.elana.net/trading

Product websites:

bgtrader.elana.netglobaltrader.elana.netmetatrader.elana.net

Information & Communication:

Skype: elana.tradingblog.elana.netanalysis.elana.net Youtube.com/ELANATrading Facebook.com/ElanaTrading

CONTACT US

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http://www.elana.net/trading

ELANA Trading Bulgaria - Corporate Profile 2015 (EN language)

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