Press releases

• All indices of the Bucharest Stock Exchange (BVB) were in positive territory at the end of the first 4 months of this year. The BET-TR index, which includes dividends, rose 5.2%, while the BET-NG, an index of energy and utilities companies, saw a double-digit increase to 10.5%.
• Fixed income instruments contributed significantly to the total trading value recorded in the first four months at the BVB, particularly driven by the continuation of the Fidelis Government bonds program.
• Fondul Proprietatea, OMV Petrom, Banca Transilvania, Romgaz, and BRD – Groupe Societe Generale were the 5 most traded shares in the first 4 months.
• The total value of trading with all types of financial instruments reached RON 6.74 billion, down compared to the first four months of last year against the background of investors' expectations regarding the future IPOs announced at the BVB.

Radu Hanga, BVB President:

• The investment opportunities generated by the public announcements regarding the listing intentions of several Romanian companies on the stock exchange created enthusiasm and a state of expectation among investors. Sometimes plans materialize, sometimes not, especially in a complex context. The Romanian capital market grew this year on the back of transactions with less depth than last year, a sign that investors of all types are rebalancing their portfolios. Romania has demonstrated that it can support significant investments: in the last 5 years, 163 financing rounds of over EUR 7.2 billion were carried out through the capital market.

Adrian Tanase, BVB CEO:

• We see potential for improvement in market liquidity, which is below last year’s level. Although in 2022 we had a liquidity record on all levels, we believe that there is a significant growth corridor. The continuation of the Fidelis program for Government securities issued by the Ministry of Finance and the public announcements regarding the listings of new companies on the stock exchange are elements that can positively boost the evolution of the local capital market. We expect this year’s IPOs to boost even more the appetite for stock market investments. The feature offered by authorized brokers in Romania to open online trading accounts coupled with the simplification of tax procedures applicable from January 1, 2023, will significantly contribute to reaching a new record in terms of the number of investors in the capital market.  

Romgaz (SNG), the largest natural gas producer and the main supplier in Romania, company listed on the Bucharest Stock Exchange (BVB) benefits from May 16^th, 2023 from the Issuer Market Maker services provided by Raiffeisen Bank International. Romgaz is listed on the Bucharest Stock Exchange since 2013.  On May 17^th, 2023 the company’s market capitalization was RON 15 bn, being the 2^nd largest company on the stock exchange.

• Starting on May 15, Lion Capital shares, one of the traditional investment funds on the Romanian capital market, are traded on the Bucharest Stock Exchange under the stock symbol LION.
• Lion Capital implemented, at the beginning of this year, the brand identity change process, also updating the company's name from SIF Banat-Crisana to Lion Capital.

Lion Capital, which has been listed on the Bucharest Stock Exchange for over 20 years, had today, May 15, its first trading session under the new stock symbol LION, as a result of the process of updating the company's brand identity, held at the beginning of this year.

• During the extraordinary Index Committee meeting within the Bucharest Stock Exchange, which took place on May 12^th, 2023, decisions were approved regarding the inclusion of Hidroelectrica’s shares in the BVB’s indices starting with the first trading day of the company’s shares
• These decisions were taken to offer to the investors a high level of transparency that is needed given the potential size of the Hidroelectrica IPO  
• The complete procedure specifying Hidroelectrica’s shares inclusion in these indices, as well as the new structure of the indices will be published as the necessary information becomes available

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), under the stock symbol PMB30. This is the 7th bonds issue that the Bucharest City Hall has issued, starting in 2015.

In April 2023, the Municipality of Bucharest completed the private placement of the issue of municipal bonds with a total nominal value of RON 555 mn, intended to refinance the public debt deriving from the loan contracted in 2020 from the European Bank for Reconstruction and Development, to refinance the bond issue of the Municipality of Bucharest from 2015. As part of the private placement, the Bucharest Municipality issued a number of 55,500 registered, non-convertible, unsecured bonds, denominated in RON, with a unit nominal value of RON 10,000 and a fixed annual interest rate of 8.90%, to Romanian institutional investors. The bonds will mature on April 25, 2030.

• Seven listings took place in the first quarter at the Bucharest Stock Exchange (BVB), for a total of EUR 428 million: there were 6 bond issues that totaled EUR 427 million and one equity issue of almost EUR 1 million.
• In the last 5 years, 156 rounds of financing involving either equities or bonds with a cumulative value of EUR 6.5 billion were carried out at the BVB.
• The share price of the BVB issuer, a company listed on its own market, reached an all-time high of RON 47.7 in March. The BVB share had the biggest increase among the issuers in the BET index: plus 13.5% in a single month.
• The capital market in Romania increased by 3.8% in the first quarter, taking into account the BET-TR index, but this development took place against the backdrop of decreasing liquidity.

Radu Hanga, BVB President:

• The performance reported in March by BVB as an issuer, namely +13.5%, comes after the share had a yield of 42% last year, including the dividend, and thus obtained the highest growth pace among the companies in the BET index. The BVB share reached RON 47.7 in March, the highest level since the listing, while simultaneously setting another record high: the BVB issuer had over 3,300 shareholders.
• In a broader context, the number of investors in the capital market reached 133,000, a level that represents an all-time high. Our projects, from the new brand identity, which is fresher and friendlier, to those on increasing the visibility and attractiveness of the capital market as a platform for financing local companies, are elements that add value and have received the appreciation of investors.

Adrian Tanase, BVB CEO:

• The uptrend we witness regarding the continuation of listings of either stocks or bonds on the stock exchange confirms that the capital market is successfully fulfilling its role in the economy. In the last 5 years, 156 rounds of financing with either equities or bonds were carried out at the BVB, the cumulative value of which topped EUR 6.5 billion.
• As the uptrend of listings of financial instruments at the BVB continues, we believe that it is feasible to reach 200,000 investors in the short term, if the pace that we have seen in recent years is maintained, combined with the implementation of the FIDELIS program, the listing of Hidroelectrica, and the simplification of fiscal procedures that is in force since January 1st this year.

• The Ministry of Finance (MF) attracted RON 716mn and EUR 473mn through five issues of government bonds for retail investors (FIDELIS), within the 11th offer held in the last three years on the capital market.
• Blood donors bought Fidelis government bonds worth over RON 164mn, at an interest rate of 7.7% p.a.
• Through the 11 offers held since August 2020, the Ministry of Finance attracted over RON 18bn (EUR 3.7bn) from the retail investors.
• The government bonds are traded on the Bucharest Stock Exchange starting Tuesday, April 18, transparently, through authorized intermediaries.

The Ministry of Finance (MF) attracted RON 716mn and EUR 473mn (values totaling RON 3bn – EUR 618.4mn), through the first primary offer for the sale of government bonds for the retail investors (FIDELIS) held this year through Bucharest Stock Exchange’s (BVB) systems.

• The Bucharest Stock Exchange publishes the volume "Made in Romania: 15 companies for the growth of the Romanian economy and their success stories" including the stories of the finalist companies in the 5th edition of Made in Romania, held in 2022.
• Today, March 29, we start the 6th edition of Made in Romania, 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, 2023, on the program's dedicated platform, www.investingromania.com.
• This year's edition comes with a novelty: the Made in Romania podcast launch, dedicated to the finalists and semi-finalists of the Made in Romania program from all editions.

The Bucharest Stock Exchange (BVB) publishes today, March 29, the volume ‘ Made in Romania: 15 companies for the growth of the Romanian economy and their success stories’, including the stories of the finalists in the 5th edition of Made in Romania, held in 2022. The 15 finalist companies in 2022 are: 5 to go, Agricloud, Agroland Business System, Antibiotice Iasi, Code of Talent, Curtea Veche Publishing, Cyscale Systems, Deltamed, Digisign, dotLumen, FintechOS, IRUM, Merlin's Beverages, Transavia and Zebrapay.  We invite you to read their success stories in the book published today and available online on www.investingromania.com.

With the release of the "Made in Romania: 15 companies for the growth of the Romanian economy and their success stories" book, the 5th edition ends, and begins the 6th edition of Made in Romania, a program that aims to promote Romanian entrepreneurial companies. The program will continue under the slogan "We connect capital with ideas" and, as every year, will provide a local development framework for these companies, emphasizing the development of business strategy, transparency, visibility, reputation, and access to the necessary capital to take the company to the next level.

• The initial public offering (IPO) will include five issues, in euros and lei, one of which will be dedicated to blood donors.
• The bonds dedicated to donors are denominated in lei, have a maturity of 1 year and an interest rate of 7.7%.
• Additionally, the Ministry of Finance will issue two other issues in lei, with maturities of 1 year and 3 years and interest rates of 6.7% p.a. and 7.35% p.a., and two in euro, with maturities of 1 and 5 years, respectively, and interest of 3.7% p.a. and 5.8% p.a.
• The offer will take place between March 27 and April 10, and the estimated date of the listing of Fidelis securities on the local stock market is April 18.
• Through the previous ten IPOs for Fidelis bonds, between July 2020 to September 2022, the Ministry of Finance attracted almost RON 15.2bn (EUR 3.1bn) from the individual investors.

The Ministry of Finance (MF) continues the issues of FIDELIS government bonds for retail investors and launches on Bucharest Stock Exchange (BVB) the first offer in 2023, between March 27 and April 10. This is the 11^th such offer carried out on the capital market since July 2020. Through the previous ten offers, the Ministry of Finance attracted from the retail investors almost RON 15.2bn (EUR 3.1bn).

• The first two months of this year brought a 5.5% surge for companies listed on the Bucharest Stock Exchange (BVB) and included in the BET-TR index, which also includes dividends.
• The listings of financial instruments continued a the BVB. In the first two months alone, there were 7 listings: 5 corporate bonds worth EUR 425 million, one equity listing of almost EUR 1 million, and the listing of the second ETF from the BVB. Also, during this time there was also a transfer from AeRO to the Regulated Market.
• Over the past 5 years, companies in the BET-TR index provided investors with yields of nearly 100%, a superior performance over the US S&P500 index and more than double over the European STOXX600 index.

Radu Hanga, BVB President:

• The Romanian capital market rewarded investors with a 100% growth rate in the last 5 years cumulatively. From the perspective of the BET-TR index, which also includes dividends, Romania performed much better than the US S&P500 index or the European STOXX600 index. This shows that local and foreign investors have faith in Romanian companies and in their ability to develop.
• The total value of shares and bonds listed on the BVB in the first two months of this year reached EURO 426 million. We look to 2023 with confidence, we see important signals regarding the continuation of financing rounds, and the anticipated listing of Hidroelectrica will represent a catalyst for investors.

Adrian Tanase, BVB CEO:

• From the perspective of liquidity, one can observe investors are in the expectation stage. On the one hand, BVB investors analyze the financial results announced by the listed companies and follow with interest the dividend proposals. On the other hand, the market is waiting for new listings and Hidroelectrica is the most significant listing announced for this year. An important positive element is that the Ministry of Finance will continue to run Fidelis government bond issues on a quarterly basis.
• Looking beyond the volatility of the moment, the data show that the capital market is an effective solution for saving. A medium-term example shows that those who would have invested in the companies in the BET index structure five years ago would have doubled the value of their investments today, including dividends. The most important message for investors is not to be afraid of volatility, diversify investments and have a medium to long-term horizon.

Raiffeisen Bank, a major player in Romania’s banking sector and one of the most active issuers at the stock exchange in the implementation and promotion of green funding on the capital market, is listing today, 28 February, its third issue of sustainable bonds, worth RON 369 mn, on the Main Market of the Bucharest Stock Exchange. The bonds to be traded under the RBRO27C ticker symbol account for the first issue of bonds listed by Raiffeisen on the Bucharest Stock Exchange this year and the seventh issue of exchange-tradeable bonds, totalling RON 3.7 bn.

Millenium Insurance Broker, an insurance broker with 25 years of experience in the Romanian market, is to make its debut today, 27 February, on the AeRO market of the Bucharest Stock Exchange (BVB). The company stocks will be traded under the MIB ticker symbol after having achieved, between 13 and 25 October 2022, a private placement as a result of which Millenium Insurance Broker has raised the amount of RON 4.2 million.

• ETF Energie Patria Tradeville (PTENGETF) is the first sectorial ETF and the second ETF available on the local capital market.
• ETF Energie Patria Tradeville was launched by SAI Patria Asset Management at the beginning of 2023 and tracks its benchmark the BET-NG index, which reflects the evolution of shares of companies in the energy and utilities sector listed on the Bucharest Stock Exchange.

• The global index provider FTSE Russell reveals, in the semi-annual review effective from March 20, 2023, that all 13 Romanian companies included in the Global All Cap and Global Micro Cap indices dedicated to Emerging Markets will maintain their position in indices.
• Having all Romanian companies maintain their position is all the more important as the international capital markets experienced episodes of heightened volatility last year.

CEC Bank, the bank with the longest history in the financial-banking market in Romania, which started to operate in 1864, is listing today, 17 February, the first two bonds issued and denominated in RON and EUR, totalling over 650 million RON, on the Main Market of the Bucharest Stock Exchange. The bonds issued in RON, with a total value of 175.35 million RON, will be traded under the CECRO25 ticker symbol, whereas the bonds issued in EUR, with a total value of 97.3 million EUR, will be traded under the CECRO25E ticker symbol.

The bonds issued by CEC Bank are senior non-preferred unsecured bonds eligible in the light of the MREL requirements. The tranche in RON has a fixed interest rate (coupon) of 9% per year, and the tranche in EUR has a coupon rate of 7.5%, both having the maturity on 30 December 2025. 

Press release, Brussels, 16^th February 2023

Today, fourteen European exchange groups, present in twenty-six [1] Member States of the EU, announced a joint initiative to participate in the future selection process for the provision of a consolidated tape (CT) for equities in the European Union. The project responds to the European Commission’s proposal for an equities tape to contribute to the development of the Capital Markets Union.

The participating exchanges - cornerstones of financial markets across Europe with decades of experience in operating critical market infrastructure - have signed a term sheet to establish a joint venture that will evaluate and prepare an application as a CT provider in a future selection process.

The participants are recognised specialists in supplying reliable and high-quality market data and are well-positioned to deliver a CT quickly, efficiently, and to the highest operational standards.

The project will focus on providing a tape designed to provide a comprehensive, standardised and consistent source of market data and will seek to collaborate with regulators to develop the optimal solution for investors.

Through this joint venture, the participating exchanges, as key players in the EU’s capital markets ecosystem, are reiterating their commitment to fostering the EU’s open strategic autonomy.

• 17 awards have been granted to the companies active on the stock market, to intermediaries, and to investment and pensions funds administrators at the BVB Awards 2023 for the achievements recorded throughout the 2022 stock exchange year.
• This is the 10th edition of the Bucharest Stock Exchange granting awards to the performers in the local stock market.
• The winners of the BVB Awards 2023 are: Arobs Transilvania Software, Banca Transilvania, BCR, BRD - Groupe Société Générale, BRK Financial Group, BT Capital Partners, FDI Audas Piscator Administrator S.A.I. Atlas Asset Management, Fondul Metropolitan Life Administrator Metropolitan Life Pensii, Fondul Proprietatea, Fondul Raiffeisen Acumulare Administrator Raiffeisen Asset Management, OMV Petrom, Primaria Municipiului Bucuresti, Raiffeisen Bank, Romcarbon, Swiss Capital and TeraPlast.

At the 10th edition of the BVB Awards, the Bucharest Stock Exchange (BVB) has granted today 17 awards to listed companies, brokerage companies, as well as to private pension and investment funds for their achievements in 2022. The event which spotlighted the performers of the local capital market in 2022 is organized further to the achievements recorded in the previous year, in an intricate international context. The 2022 stock exchange year ended with a series of outstanding performances in terms of the total trading value recorded in all markets by all types of financial instruments (over RON 24 bn), in terms of the daily average trading liquidity for all types of financial instruments listed, which peaked anew at RON 95.6 mn, and in terms of the number of transactions by all types of financial instruments in all markets, counting more than 1.67 million transactions, which reflects an increase by 9% compared to the previous year. Moreover, 11 companies were listed in 2022 on the AeRO market, summing up RON 28 mn, along with 31 bond issues, totalling EUR 1.9 bn.

• The first month of 2023 closed with an increase of over 4% for the companies listed on the Bucharest Stock Exchange (BVB) and included in the BET index, which reflects the evolution of the 20 most liquid companies.
• Funding rounds through the capital market continued in January when a new bond issue was listed.
• The number of investors present in the capital market continued to grow and reached 133,000 at the end of last year, FCI data show.

Radu Hanga, BVB President:

• The capital market started the year very well as reflected by the price appreciation of many listed companies, with the BET index going up by 4%. The financing rounds carried out through the capital market continue, we already saw a first listing this year for corporate bonds worth almost half a billion lei, and we have clear signals that several companies are preparing to go public.
• Romania has taken steps to join the Organization for Economic Cooperation and Development (OECD) and the successful completion of this course will bring added value to all Romanian companies who will understand that through better corporate governance they can have access to important resources of capital held by international investors.

Adrian Tanase, BVB CEO:

• A series of concrete projects to improve the relationship with investors and increase the liquidity of the companies listed on the stock exchange have already been started this year. Together with the EBRD, we launched the "Investor Relations and Liquidity Support Programme" and we have recently added a section dedicated to individual investors to the BVB Research platform.
• The official request for the authorization of the Central Counterparty was submitted to the Financial Supervisory Authority, an application containing over 150 documents accompanied by their translations into English. We are following the steps that are required by the regulations and finally this application will be evaluated by the ESMA. Our target is the operationalization of the CCP in the fourth quarter of this year.

• Safetech Innovations, company listed on the AeRO market since 2021, transfers to the Main Market of the Bucharest Stock Exchange.
• February 6 is the first trading day for Safetech Innovations shares on the Regulated Market under the stock symbol SAFE.
• Since its listing on the Stock Exchange, the company's capitalization has increased 3.4 times, reaching RON 216 mn.

Safetech Innovations (SAFE), Romanian cyber security company, present on the capital market since 2021, debuted today, February 6, on the Stock Exchange’s Regulated Market under the stock symbol SAFE, following the transfer from the AeRO market. Safetech Innovations had, at the time of the transfer, a capitalization of RON 216 mn. The company specializes exclusively in providing cyber security services and solutions to local and international companies. Also, Safetech is present in three countries, through the offices opened in Bucharest, London and Abu Dhabi, and this year it aims to open an office in the United States of America as well.

Meta Estate Trust (MET), holding company that operates in the real estate sector, listed on the Bucharest Stock Exchange (BVB), benefits since January 26, from the Issuer's Market Maker services offered by BRK Financial Group. The company is listed on the AeRO market, the equity segment of the Bucharest Stock Exchange’s Multilateral Trading System, since 2022. On January 31, 2023, the Meta Estate Trust’s capitalization was RON 79.72 mn.

"Ever since the listing of Meta Estate Trust on the AeRO market of BVB, approximately 5 months ago, the constant concern of the company's management has been to keep our commitments to investors and to develop permanently. During this period, we made investments with high potential and concluded exits with returns above the market average. We want to continue to be one of the most attractive issuers for existing shareholders, but also for potential investors. Therefore, in line with our strategy so far, we are happy to announce the partnership with BRK Financial Group for the implementation of the Market Making program. We are confident that it will support the company's liquidity on the capital market and bring added value to MET shareholders," said Oriol Casellas Deig, CEO of Meta Estate Trust.

The MET share is the 14th share of an issuer listed on the stock exchange on the Main Market for which the BRK Financial Group team provides Issuer’s Market Maker services. The total number of financial instruments listed on the Bucharest Stock Exchange’s Main Market that benefit from the Issuer's Market Maker services reaches 21. The specific parameters that apply to the Issuer's Market Maker activity carried out by BRK Financial Group for Meta Estate Trust shares are available HERE.

• The number of issuers covered through the program will increase significantly, including the constituents of the BET index
• Individual investors can actively contribute to the development of the capital market by publishing their own informative and educational materials on the BVB Research Hub platform

Bucharest Stock Exchange (BVB) is expanding the BVB Research Hub platform by enlarging the number of companies covered by research reports, to include most of the companies in the BET index, as well as other companies.

At the same time, the platform will include a new section dedicated to Contributors, i.e. individual investors from the local capital market, but also those who are passionate about the stock market, and who have relevant knowledge and experience that they want to share. The materials and information presented will be informative and educational, BVB’s objective being that through this interaction, individual investors contribute to a better understanding of the local capital market, investment strategies and valuation methods and to the promotion of companies listed on the BVB. Additionally, this section will constitute a new communication channel for BVB Research Hub's institutional partners with the local investor community.

• The Bucharest Stock Exchange (BVB) reached a new record in 2022 in terms of the total trading value recorded on all markets with all types of financial instruments after total transactions exceeded RON 24 billion.
• The average daily liquidity reached a new high: RON 95.6 million, +11% compared to 2021.
• In 2022, the investors operating on the BVB achieved a new record for the number of transactions with all types of financial instruments: over 1.67 million transactions.
• In 2022, 42 rounds of financing were completed with a total value of EUR 1.9 billion.
• The number of investors reached over 128,000 at the end of the 3rd quarter of the previous year, an all-time high for the Romanian capital market.
• The BVB share increased by 40%, the best performance in the BET index, reflecting the results of the efforts made in recent years to make the capital market more efficient.

Radu Hanga, BVB President:

• The year 2022 was a real carousel for the international capital markets, which were marked by heightened volatility.
• After a very long period characterized by relaxed monetary policies, inflationary pressures led to the start of a cycle of aggressive interest rate increases at the global level.
• What has been remarkable in 2022 is that capital market funding rounds have continued: 42 financing rounds totaling EUR 1.9 billion have already been run through the stock exchange’s systems in a single year.
• The announced listings of Hidroelectrica and Salrom, approved by the Romanian State and where Fondul Proprietatea will be the one selling its holdings, can be a catalyst for accelerating the pace of listings on the BVB and for increasing the chances of Romania to be promoted to the Emerging Market status by the global index provider MSCI.

Adrian Tanase, BVB CEO:

• During a complicated year for all capital markets, the Romanian stock market had posted all-time high on three levels of liquidity.
• Our efforts to significantly improve liquidity, especially in the equity segment, will continue in a sustained manner, and the efforts from recent years are now being reflected also by the evolution of the BVB share, which last year recorded the best performance in the BET index: +42% including dividends.
• The listing of Hidroelectrica and the Central Counterparty are the flagship elements that we expect in the capital market in 2023, and we believe that, together, these elements can contribute in the medium and long term to doubling the liquidity of the market.
• We estimate that we can reach 500,000 investors in the next 2-3 years, after reaching a record-high of 128,000 investors at the end of Q3 2022.

UniCredit Bank, which is part of the UniCredit Group and one of the major banks in Romania, is listing today, January 16, the first corporate bonds issued this year, worth RON 488.5mn. The bonds will be traded on the Main Market of the Bucharest Stock Exchange under the stock ticker UCB27.

UniCredit Bank has issued and sold 977 unsecured senior corporate bonds, with a nominal value of RON 500 000, with maturity on December 21, 2027, to 10 bond bearers who are legal persons. There is a fixed rate of interest of 9.07% per year. The offer was carried out with the support of Alpha Bank.

• EBRD and Bucharest Stock Exchange launch a new Investor Relations and Liquidity Support Programme.
• Up to 3 companies will be selected to receive support on improving their Investor Relations activities.
• Companies listed on the Bucharest Stock Exchange invited to apply by 28 February.

The European Bank for Reconstruction and Development (EBRD) and the Bucharest Stock Exchange (BVB) are launching a new Investor Relations and Liquidity Support Programme in Romania, to improve capital market visibility and stock exchange liquidity of up to 3 selected issuers. The Programme will be run in close cooperation with the selected companies and a team of professional Investor Relations (IR) consultants with local and international expertise from the Romanian consultancy VERTIK.