Bulgarian Undervalued over 20% based on DCF

First Investment Bank AD

Market Cap: лв754.4m

Provides various banking products and services to individuals and corporate clients in Bulgaria and Cyprus.

Albena AD

Market Cap: лв114.6m

Operates resorts on the Bulgarian Black Sea coast.

Agro Finance REIT

Market Cap: лв121.1m

Agro Finance REIT invests in real estate properties, primarily agricultural lands in Bulgaria.

Super Borovets Property Fund REIT

Market Cap: лв74.3m

Operates as a special purpose investment company in Bulgaria.

Bravo Property Fund REIT

Market Cap: лв36.7m

A joint-stock company, operates as a special purpose investment company for the securitization of real estates.

Exclusive Property REIT-Sofia

Market Cap: лв21.4m

n/a

Intercapital Property Development ADSIC

Market Cap: лв19.2m

Operates as a special purpose real estate investment trust (REIT) for real estate securitization in Bulgaria.

Port Fleet 99 AD

Market Cap: лв18.7m

Provides maneuvering and towing services for ships and floating objects in the waters of the port of Varna.

ImPulse Growth AD

Market Cap: лв8.9m

Invests in companies distributing dividends and in various instruments in Bulgaria.