AROBS Transilvania Software (AROBS), a Romanian IT company that provides software services and solutions, benefits as of today, January 18, a month after its listing, from the Issuer's Market Maker (IMM) services provided by BRK Financial Group (BRK). AROBS went public on the AeRO market on December 6, 2021. The company has a market capitalization of RON 1.1bn (EUR 228.5mn), a 28% increase compared to the level registered in the first trading day.
‘We are glad that we managed to exceed the one billion lei threshold in terms of AROBS capitalization in a month since our debut on the Bucharest Stock Exchange. We are honored by the investors’ trust and it motivates the entire AROBS team to make the most of the capital market opportunities and give its all in delivering the results. Thus, the partnership concluded with BRK Financial Group to implement the Market Making program will increase AROBS liquidity on the AeRO market and bring added value for our shareholders. At the same time, the Market Making services represent a first step that we are taking toward our plan regarding AROBS transfer on the Main Market by the beginning of next year’, stated Voicu Oprean, AROBS founder and CEO .
AROBS share is the 15th financial instrument listed on BVB for which BRK Financial Group offers the Issuer's Market Maker services. The total number of financial instruments listed on BVB, on both markets, which benefit from the Issuer's Market Maker services thus reaches 20, out of which 19 shares and one bond issue. The specific parameters applicable to the Issuer's Market Maker activity performed by BRK for AROBS shares are available HERE.
‘We congratulate AROBS for its openness to the capital market and to its investors and we thank them for choosing us as partners in the Issuer's Market Maker program. With a total capitalization of over 1 billion lei and a free float capitalization of over 50 million US dollars, values that can be compared to those of the companies on the Main Market, we have calibrated a very competitive listing package, respectively firm quotations for 60,000 shares for purchase and 60,000 shares for sale, in an average spread of 2%’, said Monica Ivan, BRK Financial Group CEO.
The IMM is the participant in BVB’s trading system that has taken on the role of sustaining the liquidity of a financial instrument, based on a contract concluded with the issuer of the financial instruments, as well as with BVB. Further information regarding the general framework for the IMM Program can be found HERE.