Press releases

From the beginning of next year, the stock market investors will benefit from lower taxes for profitable transactions and from a simplified taxation procedure. The law was promulgated today, May 20, by the President of Romania, and it provides that the tax on capital gains for individual investors to be retained at source, with two tax levels, i.e. 1% for holdings over one year and 3% for holdings of less than one year, while losses won’t be compensated. The obligation to calculate, withhold at source, declare and pay the tax will fall on the intermediaries and fund managers.

STK Properties, an investment vehicle founded by the STK Emergent investment fund, focused on the development of real estate projects in Cluj-Napoca, went public today, May 18^th, on the AeRO market of the Bucharest Stock Exchange. The company's shares are traded under the STKP stock ticker, while the listing took place after the company attracted RON 3.5 mn from investors. The anticipated market capitalization of the company is almost RON 21 mn.

• The BET-NG index, which reflects the evolution of companies listed on the regulated market of the Bucharest Stock Exchange (BVB) that have the main field of activity energy and related utilities, registered in April the highest increase compared to all BVB indices.
• At the end of the first four months, the BET-NG index is in positive territory, after a period of intense volatility, in line with the movements in international markets.
• The increase in volatility has also generated liquidity spikes on BVB: + 67% in the first 4 months compared to the same period last year, amounting to a cumulative value of over RON 9 billion (EUR 1.85 billion) for all types of financial instruments.

Radu Hanga, BVB President:

• The best investment in the face of inflation or volatility is the investment in education. The most frequently asked questions in the current context refer to the best types of investments in terms of an inflation rate of nearly 14% or more pronounced daily fluctuations in the capital markets. Investing in financial education offers the best long-term return for both individuals and companies.
• We welcome the decision of the Romanian Parliament to approve the law on withholding taxes generated by capital gains for individual investors and differentiated taxation of profits made depending on the holding period. A developed Romania needs a strong stock market with as many Romanian companies as possible and wide involvement of the population in the investment phenomenon. 

Adrian Tanase, BVB CEO:

• The energy sector, strongly represented at BVB, has a significant impact on the economy. Romania has a privileged position in this field and that is why it is essential to exploit the potential to sustainably develop this sector in order to consolidate a significant long-term competitive advantage.
• For the population, simplifying access to the capital market is one of the best news as it encourages participation in the investment phenomenon and removes a number of bureaucratic barriers. The legislative proposal adopted by the Romanian Parliament, supported by BVB, allows much easier access for as many participants in the capital market and is an incentive for Romanians to place their savings on the local stock market.

OMRO IFN, one of the first microfinance institutions in Romania, continues its financing through capital market and listeding today, May 10, a new bonds issue. The corporate bonds worth RON 10mn are available for trading under the stock ticker OMRO26. This is OMRO’s second bond issue listed on the stock exchange. The first one, worth EUR 2mn, is available for trading since 2020.

Chromosome Dynamics, an integrated agribusiness company focused on development and research of innovative IT and artificial intelligence solutions, went public, on May 5, on Bucharest Stock Exchange AeRO market. The company's shares are traded under the stock ticker CHRD. The company was founded in 2020 and attracted from the capital market investors, prior to the listing, funds worth RON 3.35mn for development. Chromosome Dynamics is the eighth listed company in 2022 on the AeRO market. The market capitalization of the companies listed only this year is RON 2.9bn.

The bonds issued by the Municipality of Bucharest through the City Hall of Bucharest (PMB) are now traded on the Main Market of the Bucharest Stock Exchange (BVB). PMB returns to the stock market with a new issue of municipal bonds, the 6th issue since 2015.

In April 2022, the Municipality of Bucharest successfully completed the private placement of the municipal bond issue with a total nominal value of RON 555 million to refinance the bond issue of the Municipality of Bucharest from 2015, maturing on May 4, 2022. In the private placement, PMB issued 55,500 registered, non-convertible, unsecured bonds denominated in RON with a nominal unit value of RON 10,000 and a fixed annual interest rate of 7.33% per year. The bonds will mature on April 19, 2032.

The Chamber of Deputies, the decision-making forum, adopted today, April 20, the legislative proposal to simplify the taxation of investors in the capital market. Of the 264 deputies present, 213 voted in favor, other votes were: 46 abstention and 5 against. The bill provides for withholding tax on capital gains for individual investors to be retained at source, with two tax levels, i.e. 1% for holdings over one year and 3% for holdings of less than one year, while losses won’t be compensated. The obligation to calculate, withhold at source, declare and pay the tax will fall on the intermediaries and fund managers. The law would enter into force on January 1, 2023, after being promulgated by the President of Romania and published in the Official Journal of Romania.

Antibiotice (ATB), one of the most important Romanian generic drug producers, celebrates 25 years since its listing on the Bucharest Stock Exchange (BVB). The company’s shares are traded on the Stock Exchange starting with April 16, 1997, under the symbol ATB, in the Premium category. With a rich history and experience in the production of generic drugs, spanning over 60 years, the development of the company is closely related to its path on BVB. In these 25 years as a listed company, its capitalization has increased more than 15 times, currently reaching a value of over RON 360 million.

• The value of transactions performed in the first 3 months of this year with the shares of companies listed on the Bucharest Stock Exchange (BVB) exceeds the value from the first 6 months of last year.
• The total trading value for equity transactions increased in the first quarter of the year by 105% compared to the same quarter last year and exceeded RON 5 billion (over EUR 1 billion).
• BVB sees 11 new listings of issues of shares and bonds in the first quarter.
• BET20: The BET index reaches 20 companies for the first time in its 24-year history.
• Romania has become more visible internationally, with 11 companies in the Emerging Market indices.

Radu Hanga, BVB President:

• The Romanian capital market is in a solid position after an exceptional year 2021 and continues to expand after the first quarter when 11 listings of issues of shares and bonds took place. More companies, more business sectors, more investment opportunities. Capital market financing has become the standard option for companies that want to reap the full benefits of listing.
• We are monitoring what is happening around us and we pay close attention to the context. The war in Ukraine is a matter of great concern in the public sphere, but risks that have lost the spotlight are still present and these risks are related to the effects of the coronavirus pandemic, supply chain disruptions, rising energy prices, rising interest rates, and high inflation.

Adrian Tanase, BVB CEO:

• We had a very active first quarter both in terms of the number of listings of financial instruments and in terms of transactions made through the systems of the stock exchange. Also in the first quarter, we extended the BET index to 20 companies for the first time, offering an unprecedented degree of sector diversification, and Romania’s representation in the Emerging Market indices increased substantially.
• At the same time, it is important to calibrate our expectations. We are experiencing a period of turbulence, and investors need to be prepared for episodes of increased volatility. The recent events have shown that BVB successfully fulfilled its economic and social role under high volatility conditions.

• Bucharest Stock Exchange publishes today ESG reporting guidelines, developed with EBRD support
• Guidelines steer issuers’ non-financial reporting to address investor ESG expectations
• In 2021, EBRD invested €546 million in Romania. Total commitments top €9.5 billion.

Bucharest Stock Exchange (BVB) has published its first environmental, social and governance (ESG) reporting guidelines for listed companies, developed with the technical assistance of the European Bank for Reconstruction and Development (EBRD).

• The Ministry of Finance attracted from retail investors almost RON 2bn following the public offer for FIDELIS government bonds, held on the local stock exchange between March 17 and April 1.
• It is the third largest FIDELIS offer in terms of value carried out by the Ministry of Finance on Bucharest Stock Exchange.
• The new FIDELIS government bonds started trading today on Bucharest Stock Exchange.
• The Ministry of Finance attracted funds worth RON 11bn through the seven public offers FIDELIS carried out since July 2020.

Banca Comerciala Romana (BCR), one of the most important financial groups in Romania, lists on Friday, April 8, on Bucharest Stock Exchange’s Main Market a new issue of corporate bonds, worth RON 351.5mn, under the stock ticker BCR27. It is BCR's first bond issue on BVB’s market this year, while the total value of BCR bonds available for trading amounts to RON 3bn.

• Agista will be a EUR 25 million capitalization investment fund joining the Bucharest Stock Exchange mission to increase the degree of understanding and access to the specific mechanisms of capital markets
• Agista will act as an anchor investor and contribute to the development of a competitive capital market

• Bucharest Stock Exchange publishes today the volume ‘Made in Romania: 15 companies for the growth of the Romanian economy and their success stories’ which includes the stories of the 15 finalist companies in the 2021 edition of Made in Romania.
• Today, March 29, we start the 5^th edition of Made in Romania, a program dedicated to Romanian entrepreneurial companies.
• The nomination period for companies in this year's edition of the Made in Romania program starts today, March 29, and is open until May 31.
• Nominations can be submitted on the Made in Romania platform, www.investingromania.com.

• The Ministry of Finance is carrying out a new public offer for the sale of Fidelis government bonds for individual investors on Bucharest Stock Exchange, between March 17 and April 1.
• It is the seventh FIDELIS public offer carried out by the Ministry of Finance on the capital market starting with July 2020. Through the first six offers carried out in 2020 and 2021, the Ministry of Finance attracted from the retail investors over RON 9bn (EUR 1.8bn)

Bento – Intellectually Curious (2B Intelligent Soft), a Romanian entrepreneurial company founded in 2004,  specialized in developing and implementing software solutions and delivering IT and Cloud infrastructure services, debuted today, March 16, on Bucharest Stock Exchange’s AeRO market under the BENTO stock ticker. It is the sixth company listed since the beggining of this year as well as the twelfth company in the IT sector that has been listed on Bucharest Stock Exchange since 2019 so far. The listing of Bento shares takes place after a hybrid private placement, through which the company sold both new and existing shares for RON 12.5mn.

• Starting with March 14th, Transilvania Investments shares, one of Romania’s biggest investment funds, will be traded on the Bucharest Stock Exchange under the stock symbol “TRANSI”.
• Transilvania Investments, known as SIF Transilvania until its recent name change, is offering a new strategic vision in its investment fund share management.

• From the end of February 2020, when the first case of conoronavirus was registered in Romania, and until the end of last month, the Romanian capital market increased by 55% when looking at the BET-TR index, which includes dividends, and by 39% when taking into account the BET index.
• Romanian investors present on the Bucharest Stock Exchange (BVB) have become more and more numerous: over 80,000 Romanians trade on the Romanian stock exchange, according to FCI data from the end of last year.
• The investors active on BVB reacted in a narrow corridor to the intensification of the military conflict in Ukraine: last month the most significant negative valence recorded in one day was 4.1% and took place on February 24th. On the same day, over 23,000 sale and purchase orders were placed on the Bucharest Stock Exchange.

Radu Hanga, BVB President:

• In the two years of the pandemic, we could see a clear trend in terms of the financial preference of the population who chose to focus more and more on the stock market in order to take part in the success stories of Romanian companies, but also to limit the erosion of purchasing power caused by a high rate of inflation.
• Romania positions itself as a pole of stability in the region in a context dominated by the high regional instability generated by the military conflict in Ukraine. We are going through moments of concern both from a human and economic perspective. For investors, the local stock market has grown by 55% in two years, even in high volatility and it has shown that it can be an essential pillar for the Romanians’ savings.

Adrian Tanase, BVB CEO:

• One of the most important lessons we have learned individually and collectively from this pandemic is that we have the ability to withstand shocks. It has become so important for every Romanian to diversify their savings that having an investment account today is an essential issue of financial security and over 80,000 Romanians have understood that the local stock market is a reliable choice.
• It is important for Romanian investors not to react emotionally with their savings, but to follow their own investment strategy in accordance with their risk profile. In an international context marked by volatility, a forward-looking investment strategy will provide more clarity and security.

Aquila (AQ), the largest player on the consumer goods distribution market with over 26 years of experience, has been included in the main index BET and in BET-TR, the total return version of BET. Thus, BVB increases for the first time the BET and BET-TR indices to 20 companies, the maximum number. The Index Committee took the decision on March 9^th and the changes will become effective on March 21st.

Norofert (NRF), an agri-food conglomerate that covers the entire chain of agricultural production, from vegetable production to the sale and distribution of organic inputs, celebrates today, March 3, two years since the listing on Bucharest Stock Exchange’s AeRO market. Since its debut on the stock exchange, investors in the capital market executed over 58,000 trades with 8.2 million NRF shares, worth RON 119mn. The company's capitalization is RON 127mn, an increase of five times compared to the time of listing.

Grup Serban Holding, a Romanian entrepreneurial company active in several fields in agriculture, debuted today, February 28, on Bucharest Stock Exchange’s AeRO market under the GSH stock ticker. The stock market debut takes place after attracting from the capital market investors RON 12.7mn, funds that will be used for the development of the group and the launch of new products. Grup Serban Holding started its activity in 1994, in Onesti. Currently, the group's business has several directions of development, such as agriculture, trade in cereals, oil plants and vegetables, poultry farming, bakery, pastry-confectionery, own chain of stores - Serban Groceries, distribution and transport.

Dr. Fischer Dental, leader of the Romanian dental equipment market, went public on February 22 on the AeRO market, under the stock ticker DENT. The debut on the Bucharest Stock Exchange took place after a private placement through which the company attracted from investors RON 5.1mn, funds that will be used for national and international expansion.

• MedLife, Purcari Wineries, Conpet, IMPACT Developer & Contractor and Sphera Franchise Group shares will be included, as of March 21, 2022, in FTSE Russell indices for Emerging Markets, FTSE Global All Cap and FTSE Global Micro Cap, respectively.
• MedLife is the sixth Romanian company included in FTSE Global All Cap indices, joining Banca Transilvania, Nuclearelectrica, OMV Petrom, TeraPlast and One United Properties.
• Purcari Wineries, Conpet, IMPACT Developer & Contractor and Sphera Franchise Group are included in FTSE Global Micro Cap indices, joining Transport Trade Services.
• Nuclearelectrica, already included in FTSE Global All Cap indices, will move from Small Cap to the Mid Cap category.
• FTSE Russell announced also the exclusion from the FTSE Global Micro Cap indices of the Bittnet Systems shares.
• Thus, Romania has 11 listed companies included in FTSE Russell indices for Emerging Markets.

INOX, one of the most important Romanian producers of stainless steel products and accessories, listed today, February 18, its first bond issue under the stock ticker INOX24E. The bonds have a value of EUR 1mn, and the funds attracted from investors will be used for the purchase of new equipment and restoration of existing facilities, implicitly the development of the company's new field of activity, medical devices production: surgical masks and filter material.

• 17 awards were given to the companies operating on the stock market, intermediaries, fund and pension administrators for the performances they registered during the 2021 stock market year.
• The Romanian capital market witnessed in 2021 one of the best years in its history and posted a series of new all-time highs for several indicators.

Agroland Business System (AG), the company that operates the largest network of agricultural stores in Romania, benefits as of today, February 15, from the Issuer's Market Maker (IMM) services provided by BRK Financial Group (BRK). Agroland went public on the AeRO market on the 1^st of March 2021, almost a year ago. The company has a market capitalization of RON 186mn (EUR 37,6mn).  

• Investors set a new trading record on January 25th on the Bucharest Stock Exchange (BVB) in terms of the number of transactions: over 16,100 orders made in a single day.
• Transactions with shares listed on the Regulated Market increased by 158% compared to January of the previous year and exceeded RON 2 billion, the equivalent of EUR 400 million.
• The Romanian capital market closed the first month of the year in positive territory: + 1% for BET and + 1.6% for BET-TR, the index that includes dividends.

Radu Hanga, BVB President:

• We had a strong start in 2022 after the capital market reported several records last year. The very good results we get are due to the actions taken by all stakeholders involved in the capital market. It is the merit of all market participants united around BVB because together we have made possible an unprecedented series of performances.
• We are presented ahead with many opportunities, but also with corresponding challenges. Romania has the chance to position itself as a landmark of stability in the region and to be an attractive destination for capital sources. In addition, the Romanian capital market is ready to face any challenges and has demonstrated this on multiple occasions.

Adrian Tanase, BVB CEO:

• We are glad that one of the priorities for 2022 that we announced last month has already received the approval of the Romanian Senate, and the project is to be debated by the Chamber of Deputies. Simplifying fiscal procedures for individual investors by introducing the withholding tax system for capital gains will facilitate Romanians’ access to the capital market.
• We have the historic opportunity to carry out this year one of the most ambitious national projects dedicated to the capital market, that of the Central Counterparty. We have a unique opportunity to build together a Romanian project, which will substantially develop the Romanian capital market. In a challenging international context, we welcome the involvement of all stakeholders in this project of unity and construction.

ABN Systems International, a technology company founded in 2002 and one of the leaders in the distribution of IT&C products and accessories in Romania, debuted today, February 14, on Bucharest Stock Exchange’s AeRO market. The debut of ABN Systems on the exchange is the first that follows an initial primary public offering carried out on the AeRO market, as a result of which the company attracted RON 5.5mn from investors. The capital will be used for the development and expansion of the company. ABN Systems’s shares, the owner of the Tellur brand, are traded under the ABN stock ticker.

The first ESG (Environmental, Social, and Governance) scores on the local capital market are available today, February 8, on the BVB Research Hub platform of the Bucharest Stock Exchange (BVB). The scores are part of the reports prepared by Sustainalytics, one of the global leaders in the segment of ESG research and ratings, based on the collaboration with BVB, initiated in 2020. The scores are published on a voluntary basis and eight of the companies listed on the Bucharest Stock Exchange joined the project at this initial stage: Antibiotice Iasi (ATB), BRD Groupe Societe Generale (BRD), Farmaceutica Remedia (RMAH), Nuclearelectrica (SNN), OMV Petrom (SNP), TeraPlast (TRP), Transgaz (TGN) and Bursa de Valori Bucuresti (BVB).

Stanleybet Capital, a holding company that integrates and coordinates a network of sports betting agencies and slot machines, gambling halls and online gambling platforms, debuted today at the Bucharest Stock Exchange with its first issue of bonds worth RON 20 mn. The bonds are traded on the Multilateral Trading System under the stock ticker SBET24. Recognized for the Stanleybet and Game World brands, Stanleybet Capital will use the funds raised from the capital market to develop the online gaming platform and mobile applications, to digitize and modernize sports betting agencies and slot machines, and to expand the number of units in Stanleybet agency network.

DN Agrar Group, an entity established in 2008 in the central area of Transylvania and operating in the agricultural sector of vegetable and livestock production, debuted today, February 2, on Bucharest Stock Exchange’s AeRO market, under the stock ticker DN. The company attracted from investors, prior to the listing, in a private placement held in July 2021, the amount of RON 24.7mn. The funds are intended for the expansion of DN Agrar Group through farm acquisitions and group development.

The Romanian Senate adopted today, February 2, the legislative proposal to simplify the taxation of investors in the capital market. Of the 120 senators present, 118 voted in favor, one abstention and one vote against. The legislative proposal will go to the Chamber of Deputies, the decision-making forum.

‘We welcome the decision of the Romanian Senate to adopt, with a vast majority, this legislative project that comes in support of the capital market and investors. Today's vote is a confirmation of the usefulness of this approach and its relevance for all market players. We strongly believe that by finally adopting and applying the provisions of this legislative proposal, we will be able to encourage the population to be more present in the capital market, thus facilitating the access of Romanian companies to financing. This law brings benefits to everyone and, ultimately, to the Romanian economy. We look forward to the debates in the Chamber of Deputies and we continue to support this legislative proposal’, said Adrian Tanase, CEO of the Bucharest Stock Exchange.

• The online retailer Elefant Online has a new bond issue worth around RON 17.5 million trading on the Multilateral Trading System under the symbol ELF26, starting from February 1^st
• This is the second bond issue of Elefant Online listed on the Bucharest Stock Exchange. The bonds related to the first issue from 2018 were paid back in full on time on September 27, 2021.

• The shares of Holdingrock1 (“Roca Industry”), the holding company that brings together the companies in the field of construction materials in the portfolio of ROCA Investments, enter trading on the AeRO market, the equity segment of the Multilateral Trading System of the Bucharest Stock Exchange (BVB)
• The stock will be traded under the stock symbol ROC1

Transport Trade Services (TTS), the leading provider of integrated logistics services on the Danube, celebrates 25 years since its establishment. When it started, on January 23, 1997, TTS was operating as a shipping company. In its 25 years of activity, Transport Trade Services has developed organically, through the acquisition of river transport companies, port operating companies and port terminals located on the Danube and in the Port of Constanta, but also in Hungary and Austria. TTS became a listed company on the Bucharest Stock Exchange in June last year, and now it has a capitalization of RON 648 million lei (EUR 131 million).

MAM Bricolaj (MAM), a Romanian company in the DIY industry, celebrates today, January 21^st, its first year since the listing on Bucharest Stock Exchange (BVB) AeRO market. MAM listing opened the 2021 listing season, and meanwhile the company has reached a capitalization of RON 47mn (EUR 9.4mn). In the first year as a listed company, MAM Bricolaj has accelerated strategic development projects, namely expanded the network and increased the number of customers. MAM Bricolaj completed the investment in a new store in Bucharest and won a new customer for every five already existing ones, respectively a 20% increase in the number of customers. The number of transactions increased by 22%, and the value of purchases and services requested related to an average voucher per transaction was 12% higher than before the listing.

• The cumulative value of transactions with all types of financial instruments on the Regulated Market of the Bucharest Stock Exchange (BVB) exceeded, for the first time, the threshold of RON 20 billion, the equivalent of over EUR 4 billion.
• The average daily liquidity for all types of financial instruments registered a new maximum: RON 79.4 million or EUR 16.1 million.
• New all-time highs for BET (over 13,000 points) and BET-TR (over 23,000 points) indices, after increases of 33% and 40%, respectively.
• Multiple records were also recorded on AeRO: the capitalization of listed companies increases by 136%, the total trading value by 253%, and the average daily value of transactions by 249%. The first dedicated AeRO index ends the year at 1,052 points.
• The capitalization of the local companies listed on the Regulated Market of BVB and AeRO reached the highest level in history and exceeded RON 160 billion.
• Romania’s visibility in Emerging Markets indices improved significantly so that by the end of the year 7 companies were included in the indices of the global provider FTSE Russell.
• The number of investors on the stock exchange continued to grow: over 74,000 direct investors, FCI data show at 9 months, and 540,000 investors in mutual funds, according to AAF data at 11 months.
• New all-time high for the total value of net assets of privately managed pension funds, where 8.1 million Romanians contribute to Pillar II and III pensions: RON 90 billion at the end of the first 9 months of 2021, according to APAPR data.
• BVB has consolidated its fundamental role as a financing platform for the Romanian economy: 23 companies were listed on the stock market in 2021 and attracted financing of EUR 234 million, and the 45 bond issues listed on BVB last year exceeded EUR 1.8 billion.

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.

• Chimcomplex Borzesti continues its journey on the capital market, started in 1996, and takes the first step on Bucharest Stock Exchange Main Market.
• January 17 is the first trading day of Chimcomplex Borzesti shares on Bucharest Stock Exchange Main Market under a new stock ticker, CRC.
• The company's shares closed the last trading session on the AeRO market at the price of RON 26.2 per share.
• Since the listing on the local capital market, the market capitalization of the company reached EUR 1.6bn.

Holde Agri Invest (HAI), a Romanian agribusiness company founded in 2018 and listed in October 2020 on the AeRO market, becomes the first issuer on the Multilateral Trading System to benefit from the Issuer's Market Maker (MME) services. The activity of IMM is provided by BRK Financial Group (BRK) starting with January 11^th. HAI shares are included in the BET AeRO index, and the company has a capitalization of almost RON 127mn, +110% compared to the level registered in the first day of trading.

One United Properties (ONE), a real estate developer of premium residential projects in Romania, will benefit as of January 3, 2022, from the Issuer Market Maker (IMM) services provided by Raiffeisen Centrobank. It is the second IMM provider for ONE shares, after BRK Financial Group started similar services in August 2021. One United Properties went public on Bucharest Stock Exchange’s Main Market in July last year, following a primary initial public offering which attracted RON 260mn from the capital market investors. One United Properties is also the fifth Romanian company included in FTSE Global All Cap Emerging Markets indices, from December 20, 2021. The market capitalization of the company amounts to RON 3.3bn (EUR 668mn).