BVB launched AeRO, the market dedicated to SMEs and start-ups


Bucharest Stock Exchange (BVB) officially launched today, February 25, 2015, AeRO, a market dedicated to entrepreneurs looking to finance their businesses and investors looking for new investment opportunities where their money can not only grow but also support some of Romania’s future top companies.

AeRO was launched during an event attended by more than 150 people interested in the capital market.

“This is a historic day, it is a meaningful beginning of something new. During the last months we found out that we do have businesses, companies in Romania, and they are now coming to the stock exchange because they are attracted by new rules, new design of this market and because they are now meeting people who speak their language. AeRO means giving a chance for companies to have capital and demonstrating now that we do have investors. The capital market is this wonderful place where companies meet investors. AeRO will be a permanent sign of innovation and creativity. AeRO will be a trademark of Romania and it will be also an international sign of the modern Romanian capital market”, stated Ludwik Sobolewski, BVB CEO.

AeRO is designed for listings of early stage companies such as start-ups and SMEs that are looking to finance their projects, growth stories, increase their visibility and contribute to the development of the business environment. AeRO was established by the Bucharest Stock Exchange in order to provide a market with less reporting obligations for the listed companies, but at the same time with sufficient transparency for investors to motivate them to invest.

During the launching event of AeRO, Misu Negritoiu, President of the Financial Supervisory Authority (FSA), said the launch of the AeRO market is a relaunch of the Romanian capital market, mentioning that FSA is working as well for relaunching of the capital market itself.

“We all agree that we must join forces and resources to use this chance. It is a chance that we must use it for us, as well for those that will come after us. We want this reforms of the capital market to continue. We have some priorities that lead to what we stated and we all intend, namely market growth, and as a result of this growth and development to reach Emerging Market status” added Misu Negritoiu.

“I appreciate this initiative of Bucharest Stock Exchange to create an alternative trading platform dedicated to SMEs and start-ups that are looking for alternative financing for development. Support for SMEs is a priority at European and national level” said Anca Ionescu, State secretary, Ministry for Energy, SMEs and Business Environment.

During the launching event of AeRO, the Bucharest Stock Exchange presented for the first time two promotional videos for this market, one inspired by the work of great Romanian inventors and the second one dedicated to those that are or will be interested in AeRO.

Delivery Solutions and Carpathia Capital are the companies that inaugurated AeRO, listing on the launching day of this market. Representatives of those companies rang the opening bell for the BVB trading session.

Founder of Sameday Courier, Octavian Badescu, explained how the company Delivery Solutions started in 2008 and how began the story of the brand Sameday Courier. He also underlined that going public on the stock market is a good choice for the company also to get a market value.

“I am also an investor on the Bucharest Stock Exchange, as well on other markets. I have experience in this area and I can put myself in the investors’ place. Investments on the stock exchange are about credibility, return, risks and safety”, said Octavian Badescu.

Delivery Solutions is the first and currently the only niche company of express delivery in Romania, being focused on the delivery of the parcels on the same day they are picked up, be it a local, national or international transport. FSA Advisory is the Authorized Advisor for Delivery Solutions.

Polish company Carpathia Capital aims to operate as a venture capital / private equity dedicated to Romania's Small and Medium Enterprises. The Authorized Advisor for this company is INC.

“We would like to invite Polish and Romanian investors to invest in Romania. We would like to replicate our success from Poland in Romania. We know AeRO is a very promising story, the market should be target not only for Romania, but for other countries in SE Europe. I invite companies and investors to cooperate. Let us create a new brighter future for capital market in Romania!” stated Pawel Sliwinski, President of the Management of Carpathia Capital.

For this important event in the history of the capital market, Bucharest Stock Exchange streamed live the event so that every person interested in AeRO, regardless of their location, could join BVB on this special occasion.

For people interested in AeRO, but always on the move, BVB introduced on its website for mobile devices a special section for AeRO. 

From left to right: Federico Salmoiraghi (FSA Advisory), Octavian Badescu (Delivery Solutions) and Ludwik Sobolewski (BVB)

From left to right: Piotr Bialowas (INC), Pawel Swilinski (Carpathia Capital) and Ludwik Sobolewski (BVB)

Ludwik Sobolewski (BVB CEO)




The AeRO market is the equity segment of the BVB’s alternative trading system. It is a market segment designed for listing of early stage companies, start-ups and SMEs, to finance their projects, growth stories, increase their visibility and contribute to the development of the business environment. Based on the BVB alternative trading system existing since 2010, the AeRO market, under its redesigned and reconstructed concept, was launched on February 25, 2015. More information about AeRO are available on BVBs’e website, under the AeRO section.

Bucharest Stock Exchange runs markets for shares, bonds and other instruments, through regulated platforms and alternative systems, and provides a wide range of services to participants of financial markets. Bucharest Stock Exchange is a public company, listed on its own market since 2010. For more information refer to

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