Kazakhstan manufacturing downturn deepens in August, PMI shows
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Bulgarian pharmaceutical company Sopharma (SFA.BSE) has overtaken smart-home devices maker Shelly Group to become the largest company on the Bulgarian Stock Exchange by market capitalisation, after a strong rise in its shares, business daily Capital reported on September 1.
Sopharma’s market capitalisation has risen nearly 20% over the past month to more than €1.24bn, Capital reported, citing the company’s latest financial results and share-price data.
Shelly Group, previously the largest listed company, has a market capitalisation of about €1.12bn after its shares fell around 1% over the past month.
Sopharma reported revenue of more than €730mn in the first half of 2026, up over 11% from a year earlier, while net profit rose 35% to more than €52mn, according to its consolidated financial report.
The company’s shares began rising on August 19 after Sopharma reported a more than doubling in sales in July from a year earlier. Sales for the first seven months of the year were up 52%.
Sopharma’s gains have also supported Bulgaria’s benchmark SOFIX index, where the pharmaceutical company has the largest weighting. SOFIX rose more than 8% over the past month to above 1,416 points, its highest level since March 2008 and above its previous January peak.
Other major index constituents also recorded strong gains. Doverie United Holding rose more than 33% over the past month, while Eurohold Bulgaria gained nearly 20%.
Doverie reported first-half net profit of nearly €45mn, up 4% year-on-year, while Eurohold’s revenue rose 15% to nearly €760mn. Eurohold completed a capital increase in June that raised more than €266mn.
Shelly’s first-half revenue rose 25% to more than €70mn, while net profit increased 50% to €15mn. Its shares have nevertheless weakened amid uncertainty over reported strategic interest in the company.
Shelly confirmed in July that it was in talks with French energy group Schneider Electric, but has not provided further information since then. Bloomberg reported that Schneider valued Shelly at about €1.3bn, or €70 per share, close to the stock’s January peak.
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