Bulgarian Potentially Undervalued Small Caps

Akumplast JSC

Market Cap: €1.1m

Engages in the production and sale of plastic accumulator boxes in Bulgaria.

Bulmetal JSC

Market Cap: €30.1m

Manufactures and sells metal packaging for food and chemical, cosmetic and other industries in Bulgaria.

Bulgartabac Holding AD

Market Cap: €17.7m

Processes, produces, and sells tobacco products in Bulgaria.

Eleven Capital AD

Market Cap: €17.4m

A venture capital firm specializes in startup investments.

Neo London Capital

Market Cap: €14.5m

Engages in the real estate business.

Agria Group Holding AD

Market Cap: €32.5m

Agria Group Holding AD, together with its subsidiaries, cultivates agricultural land, and produces and trades in grain and oil-bearing crops in the Republic of Bulgaria.

Trakiisko Pivo AD

Market Cap: €24.6k

Engages in the renting of real estate properties in Bulgaria.

Exclusive Property REIT-Sofia

Market Cap: €11.3m

n/a

Formoplast AD

Market Cap: €14.6m

Manufactures and sells plastic injection molds in Europe, Asia, and Africa.

Agro Finance REIT

Market Cap: лв121.1m

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

KMM AD

Market Cap: €429.5k

Manufactures and sells pressure vessels and equipment made of carbon and stainless steel, metal structures, and other custom-made articles for marine and industrial machine-building.

Euroterra Bulgaria AD

Market Cap: €33.9m

Operates as a real estate company in Bulgaria.

Billboard AD

Market Cap: €3.2m

Engages in the various format digital printing business in Bulgaria.

ImPulse Growth AD

Market Cap: €4.5m

An equity management company, invests in equity and capital markets instruments in Bulgaria.

Monbat AD

Market Cap: €40.9m

Manufactures and sells batteries worldwide.

Port Fleet 99 AD

Market Cap: €11.9m

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