The Issuer Market Maker program of the Bucharest Stock Exchange gains traction. BRK Financial Group becomes Market Maker for MedLife shares

2/10/2020

  • Monica Ivan, General Manager BRK Financial Group: BRK Financial Group continues the business direction initiated last year by offering market-making services to the listed issuers and it is a great honor to announce the partnership with MedLife SA, the first issuer from the BET index that concludes a Market Making contract with an intermediary. It is an ambitious project, and we hope that the liquidity of the MedLife shares will significantly improve.
  • Mihai Marcu, President and CEO MedLife: MedLife has always been performance-driven, regardless of the social or political context. It was the first medical company in Romania to be listed on the Bucharest Stock Exchange, and it was included in the BET index shortly after, as a result of the qualitative and quantitative standards we met. We constantly aim to thrive and, because liquidity is an extremely important indicator for attracting investment funds, we have decided to implement this Market Making program as well.
  • Adrian Tanase, CEO BVB: We are pleased to see that two entities active in the Romanian capital market are working together to enhance liquidity and increase the degree of representativeness among investors. Such partnerships are the result of some of the specific steps we have taken at BVB in order to increase market liquidity after having established the general framework for the issuer's Market Making program last year. We would like these examples to be replicated by other issuers as they can benefit from this framework, which creates the premises for enhanced liquidity.

 

SSIF BRK Financial Group SA (BRK), one of the most active brokerage companies trading structured products on the Bucharest Stock Exchange (BVB), became as of February 10 the Market Maker of the Issuer MedLife (M), the first private medical services provider listed on the Romanian stock market.

“BRK Financial Group continues the business direction initiated last year by offering market-making services to the listed issuers and it is a great honor to announce the partnership with MedLife SA, the first issuer from the BET index that concludes a Market Making contract with an intermediary. It is an ambitious project, and we hope that the liquidity of the MedLife shares will significantly improve. BRK is to maintain firm market maker quotations at a spread of maximum 1%, worth over EUR 50,000 of MedLife shares”, said Monica Ivan, General Manager at BRK Financial Group.

“MedLife has always been performance-driven, regardless of the social or political context. It was the first medical company in Romania to be listed on the Bucharest Stock Exchange, and it was included in the BET index shortly after, as a result of the qualitative and quantitative standards we met. We constantly aim to thrive and, because liquidity is an extremely important indicator for attracting investment funds, we have decided to implement this Market Making program as well. Besides lower volatility and increased performance for our shares, we believe that the introduction of this new program will help us further strengthen our current position and, therefore, become an even more attractive issuer for the investment funds,” explained Mihai Marcu, President and CEO of MedLife.

The Bucharest Stock Exchange last year established the general framework that allows the implementation of the Issuer's Market Maker (IMM) Program. To summarize it, the IMM is the participant in the trading system of BVB that has taken on the role of sustaining the liquidity of a financial instrument, based on a contract concluded with the issuer of the respective financial instruments, as well as with BVB.

“We are pleased to see that two entities active in the Romanian capital market are working together to enhance liquidity and increase the degree of representativeness among investors. Such partnerships are the result of some of the specific steps we have taken at BVB in order to increase market liquidity after having established the general framework for the issuer's Market Making program last year. We would like these examples to be replicated by other issuers as they can benefit from this framework, which creates the premises for enhanced liquidity”, stated Adrian Tanase, CEO of BVB.

The specific parameters that apply to the IMM activity provided by BRK Financial Group for the shares issued by MedLife are available here: http://www.bvb.ro/info/EN_Parametrii_MME_BRK_M_wbo.doc.pdf.

Further information regarding the general framework for the IMM Program can be found here:

http://www.bvb.ro/info/Issuer%20s%20Market%20Maker%20Program.pdf.

 

***

About BRK Financial Group

BRK Financial Group was established as a joint-stock company on October 26, 1994, being one of the largest brokerage companies in Romania. Extensively experienced in the capital market, it is also the first and, up until now, the only financial investment company listed on the Bucharest Stock Exchange, in the premium category (ticker symbol: BRK). The core activity of BRK Financial Group is structured on two business directions, namely the intermediation segment and the trading segment. In the trading segment, the company operates the transactions on its own account, market-making operations, and structured product transactions, while on the intermediation segment, the company operates the customer transactions, respectively the corporate operations. The management deems future projects to be of importance, considering the triple stance of BRK: investment firm, intermediary and issuer. The high level of competence and experience at all corporate levels of our team allows the company to look confidently ahead into the future.

 

About MedLife

MedLife is the largest private medical operator in Romania. The company operates the largest network of clinics, one of the major networks of medical laboratories, multi and monodisciplinary hospitals and it has the largest client base for Health Prevention Packages at national level. Also, sales-wise, it is one of the major private healthcare companies in Central and Eastern Europe.

The stock issued by MedLife SA is accepted for trading on the spot regulated market, managed by the Bucharest Stock Exchange, under the Premium Category, ticker symbol “M”.

The MedLife Group has a successful background regarding both organic and also acquisition growth. Since 2009 the company has opened or bought over 130 medical units. Its strong and experienced management team has been able to create and manage these growth opportunities, acquiring valuable experiences and knowledge, allowing it to find the best way for carrying on the expansion process successfully.