Purcari Wineries benefits from the Issuer Market Maker services provided by Raiffeisen Centrobank

9/1/2021

  • Raiffeisen Centrobank acts as an Issuer Market Maker for Purcari Wineries shares starting from September 1st.
  • Purcari Wineries becomes the first Bucharest Stock Exchange-listed company to benefit from the Issuer Market Maker services provided at the same time by two intermediaries.  

 

Purcari Wineries (BVB:WINE), a leading player in the wine and brandy segments in the Central and Eastern Europe region managing around 1,300 hectares of vineyards and 4 wineries located in Romania and the Republic of Moldova, benefits starting with September 1st from the Issuer Market Maker (IMM) services provided by Raiffeisen Centrobank. The company becomes the first Bucharest Stock Exchange-listed company that benefits at the same time from the IMM services provided by two intermediaries, Raiffeisen Centrobank and BRK Financial Group.

‘This is the first time when a listed company is working with two intermediaries within Issuer's Market Maker program to support liquidity. This demonstrates the interest of Purcari Wineries in their stock performance. We want more and more issuers to follow the example of Purcari Wineries, as well as other issuers included in this program, and to use this opportunity’, says Adrian Tanase, Bucharest Stock Exchange CEO.

‘The collaboration with Raiffeisen Centrobank for market maker services comes with the purpose of further increasing the liquidity of Purcari stock, not only making the Purcari stock more attractive to investors, but also paving the path for the inclusion of Purcari in the FTSE Russell index, where reaching a certain level of stock liquidity is a prerequisite. While we focus on business fundamentals and the growth of the company, we remain investor-oriented and will continue to bring value to our investors through activities such as this collaboration with Raiffeisen Centrobank’, said Eugen Comendant, COO, Purcari Wineries.

The Issuer's Market Maker (IMM) activity will be performed by Raiffeisen Centrobank based on a contract signed with Purcari Wineries. Purcari Wineries became a BVB listed company in February 2018. WINE shares are included in six of BVB’s indices, respectively BET, BET-TR, BET-XT-TR, BET-BK, BET-XT, BETPlus.

‘We are pleased to be put in charge of the Issuer’s Market Maker at BVB once more. Raiffeisen Centrobank continuously extends its activities on the Romanian capital market and after having accompanied Purcari Wineries’ initial public offering in 2018, it is a pleasure to cooperate again’, said Günther Kornfellner, Equities & Derivatives Trader for EMEA at Raiffeisen Centrobank.

The total number of the financial instruments listed on the Bucharest Stock Exchange that benefit from the Issuer’s Market Maker program is 16 (out of which 15 shares and one bond issue). The specific parameters applicable to the IMM activity provided by Raiffeisen Centrobank for WINE shares are available HERE.

The IMM is the participant in the 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.