Bulgarian software developer Sirma Group Holding said it plans to launch a dual listing procedure for its shares on the Bulgarian and Frankfurt stock exchanges.

In early 2026, Sirma plans to join the EuroBridge segment of the Bulgarian Stock Exchange (BSE), which enables simultaneous trading on both markets.

The decision was taken by Sirma’s board of directors earlier in May, according to a press release from the company. As part of the process, the company has appointed Expat Capital, a local wealth management firm, as its consultant to manage all necessary activities related to the listing on the Frankfurt Stock Exchange (FSE).

If successful, the dual listing of Sirma will be the second for a Bulgarian company. In July 2024, local Shelly Group started trading on the Frankfurt bourse.

Sirma CEO Tsvetan Alexiev expressed confidence that the company could emulate Shelly Group’s success, emphasising the strategic importance of gaining traction in the German capital market.

Aleksiev said the company will have a year and a half to two years of work ahead on the Frankfurt Stock Exchange until the German investment community gets to know the company.

The company also indicated its intention to raise capital on the Frankfurt market in the coming years to support future acquisitions.

Sirma is targeting software companies in Europe with annual revenues between €5mn and €20mn and staff sizes ranging from 100 to 300. It is particularly focused on companies operating in sectors such as finance, insurance, healthcare, transport and logistics, hospitality, and mechanical engineering.

In 2024, Sirma's consolidated revenue increased by 24% y/y to BGN100mn (€51.1mn), while the sales in Europe spiked by 29% y/y to BGN71mn. For 2025, Sirma Group is targeting at least 20% revenue growth.