Bulgarian Property Developments Share Discussion Threads

[shirishg] 05/1/2005 10:39

Post removed by ADVFN

[dwelshmafia] 05/1/2005 10:36

2.00 pounds a share by friday just wait and see

[ratters] 05/1/2005 10:30

Slapdash,

Entirely agree with your logic.

However, at this stage (yesterday and today) it is simply a matter of a few people making quick returns -and good luck to them. I did not have the balls
to buy in first thing this morning ........

Having done business in Bulgaria during last 5 years I would say that this oompany ought to do well in a year or two - and should make a good steady return on its invetments - but it will be an arduous and sometimes painful
process. The current share price will not be sustainable for very long imo.

[richardbees] 05/1/2005 10:24

very sensible post, slap!

[slapdash] 05/1/2005 10:12

hmm..

remember this is only a property play....

usually have discounts around 20% to nav...

This launched I believe at a premium of around 10% to cash...

Now at a premium of 100%...

i.e. market saying whatever they buy in Bulgaria with their cash will double in value for them...

Seems a little stretched to me.... Bulgaria is no tiger economy.... socialist legacy, lots of corruption.... it's hardly going to do an Ireland and attract bucket loads of FDI...

So valuation appears a little stretched to me.. especially for a company with no record...

Rather than buy into this at such a premium... i.e. saying in effect that you are paying twice the cash price of what it would cost you to buy directly the same property in Bulgaria...... Why not just buy something direct???? At a 100% premium to the direct purchase price it seems a little crazy to buy these shares at thsi level... Better just to fly out there and buy something...

I know market looks forward but 100% premium for a property company is a little high...

The slapster

[mangal] 05/1/2005 09:47

Bet he is - it's more than doubled now from the issue price !!

[mdchand] 05/1/2005 09:38

mangal - got a client into these at underwriting stage - he's one very happy client today :-)

[lbo] 05/1/2005 09:33

No problem!

[mangal] 05/1/2005 08:52

LBO, Thanks for the article. I've now put a link to it in the header.

[lbo] 05/1/2005 08:35

Bulgarian Property starts trading on AIM

AFX UK (Focus); Jan 04, 2005



LONDON (AFX) - Bulgarian Property Developments PLC said its shares were admitted to trading on the AIM Market this morning.

BPD is a newly formed company which has raised approximately 4.5 mln stg before expenses under an offer for subscription which closed on Dec 15 2004.

The board intends to undertake property development, trading and investment primarily in Bulgaria. The directors believe that prices in the Bulgarian property market, which have increased in previous years, will continue to increase over the next few years. The directors will also consider property market opportunities which arise in other south eastern European countries.

The company has purchased six plots of land on the ring road near Sofia airport. The directors also said they are in negotiations to acquire additional strategically situated parcels of land near Sofia.


also FYI

[mangal] 04/1/2005 16:55

It's finished a whopping 60% up - & it's the first day; wish I'd bought some more !

[peterstilgoe] 04/1/2005 15:48

Its a flying

[peterstilgoe] 04/1/2005 13:34

Doesnt look like ADVFN have this properly registered on their systems yet.

[mangal] 04/1/2005 11:21

Already up a massive 40% !!
[edit: Why is this not listed in advfn's "Top % Gainers" ? ]

[mangal] 04/1/2005 10:17

I've heard that property is so cheap there that you can buy one with your credit card; of course, that can't last long - esp in anticipation of EU membership. I almost feel like flying out there and buying one immediately but then thinking of the legal & logistic probs it's probably too much hassle; so, on second thoughts, maybe just buy some more BPD !
[edit: BTW, DWM, R U a holder? I bought some this morning]

[dwelshmafia] 04/1/2005 09:56

yes i know i was out there this summer the houses are rocketing in price due to the british.have the plane brought out there when i was out there in golden sands in 2004.and when you will be able to buy the land when they join the e.u it will rocket .bulgaria is set to be the new spain trust me i've been there when they can cook food good it will be the top spot in e.u.so cheap and houses,looking to buy now.you can buy 4 bed house on the balck sea for 50,000 pounds give it 3 to 4 years will rocket to 400,000 pounds better then stock market and if you buy any companies to do with bulgaria you set to in joy the profits.

[mangal] 04/1/2005 09:22

We are talking Property, not food ... LOL !

[mangal] 04/1/2005 09:16

If you want a Property punt in the New EU countries - you can't beat this.
Issue price 50p. First day of trading, 4 Jan 04, and already up a whopping 60% at close.


This is what citywire said :
"... as a member of the EU the value of Bulgarian property is sure to rise and BPD allows investors to profit from this without the legal and logistical difficulties of owning property there directly. ..."



Other links/articles:

Aim admission RNS:


Pre-floatation article:

(from www.BulgariaHotspot.com)

Eastern European Property Boom (EEPB) thread :


From The Observer, 12 Sep 2004: "Property prospects rosy on the Black Sea ":


From Citywire, 5 Jan 2005, BPD - "Investors hot for Bulgarian property"