Pleven-based company Oil and Gas Exploration and Development was granted the 9 concessions by the government although expected amendments in the Concession Law were not made. This will enable the 49% listing of the company’ capital on the BSE, which will be traded against compensatory notes. State Insurance Institute (20% of the state stake in the company will be privatised against compensatory notes) and Oil and Gas Exploration and Development stakes are expected to be launched on BSE till the end of the month against some BGN 48 M in compensatory notes. Trade on the compensatory notes market was quite intensive during the last week, which makes us forecast an intense competition on the auctions for these two companies.