Press releases

• Record number of investors on the stock exchange: the number of direct investors at the Bucharest Stock Exchange (BVB) is continuously increasing for the 11th consecutive quarter and reached 128,000 investors for the first time, according to FCI data at the end of the first 9 months.
• Over 7.9 million Romanians who contribute to Pillar II of pensions have exposure to financial instruments listed on the BVB, and over 450,000 Romanians already invest through open investment funds.
• The total value of trading with all types of financial instruments reached EUR 3.68 billion in the first 10 months, increasing this year by 17%.

Radu Hanga, BVB President:

• The extent of the stock market phenomenon that has attracted more and more Romanians is remarkable because the last time the Romanian stock market had 100,000 direct investors was in 2009, and this year we reached an absolute record: 117,000 investors at the end of the second quarter and an increase to 128,000 investors at the end of the third quarter.
• Being on the stock market today, as an investor or a listed company, has become a normality and we believe that this is a healthy basis for a financially educated Romania. At the BVB level, we run a series of projects that, taken together, contribute significantly to the success we have today. We aim to do even more and are involved in developing a capital market strategy

Adrian Tanase, BVB CEO:

• More and more Romanians are investing in the stock market because the capital market has unequivocally become the most attractive option for investing their savings. It is for the first time that 128,000 investors are present on our stock market, and this proves that the capital market is gaining particular importance in the financial plans of Romanians.
• Another example that the stock market is developing in the right direction is given by the evolution of the BVB share, as an issuer. BVB shares reached a 5-year high, and investors who were patient were rewarded. The performance of the BVB shares so far this year has reached +34.4%, including dividends.

Bucharest Stock Exchange (BVB) is a strong promoter of financial education among students, graduates, and young professionals, through all the educational projects it has developed in partnership with specialized entities in the field. The cooperation agreement between Bucharest Stock Exchange and West University of Timisoara (UVT) signed today aims to anchor future generations of students and graduates in the economic reality we live in by facilitating their access to information related to savings, investment, or entrepreneurship.

• The stock and commodity exchange in Romania began trading on the 1^st of December 1882, pursuant to a High Royal Decree issued by King Carol I. After the communist regime took hold, the stock exchange was closed in 1948.
• The stock exchange was reinstated in 1995, its first trading session taking place on 20 November 1995 when only six companies were listed. Currently, there are 376 companies listed on the stock exchange.
• Over time, the Bucharest Stock Exchange (BVB) has demonstrated that it has successfully fulfilled its crucial role of financing the Romanian economy and, on 15 December this year, as part of an anniversary event, will celebrate 140 years since Romania’s first stock exchange was founded. The anniversary event is held under the High Patronage of the President of Romania.

• Sphera Franchise Group celebrates 5 years since its listing on the Bucharest Stock Exchange, with ticker symbol SFG
• Capitalisation of Sphera Franchise is 494 million RON
• Since its listing in 2017, more than 32,000 transactions of 22.5 million SFG shares have been realised, worth 444.8 million RON

Sphera Franchise Group (SFG), the biggest group in the foodservice industry in Romania, celebrates today, 9 November, 5 years since its listing on the Regulated Market of Bucharest Stock Exchange. Capitalisation of Sphera Franchise Group on 8 November 2022 was 494 million RON.

The Bucharest Stock Exchange (BVB), company that has been listed on its own Main Market since 2010, is continuing its digitalization process, in partnership with eVOTE, with its platform enabling online attendance of its General Shareholders Meeting (GSM). Investors will be able to use the eVOTE platform to vote at the meetings both online and in person, thus optimizing the entire process by reducing the time and human resources required. The partnership aims to establish better connectivity between the company and its shareholders, by reducing errors, communicating decisions efficiently, and collecting votes from the General Shareholders Meeting through a single platform, in real time. Using the eVOTE platform is intended to ensure transparency and good corporate governance at the Bucharest Stock Exchange, and to increase operational efficiency by simplifying its administrative procedures.

Raiffeisen Bank, a major player in Romania’s banking sector, is listing, on Wednesday, November 2, its second issue of sustainable bonds on the Bucharest Stock Exchange (BVB), to a value of RON 325.5 mn. The bonds, which will be traded on the Regulated Market under the ticker symbol RBRO27B, are the second sustainable bonds issue Raiffeisen has listed on the BVB and its sixth issue of tradeable bonds on the stock market, with all six of its issued bonds reaching a total value of RON 3.3 bn.

The senior, eligible, ordinary, sustainable bonds, denominated in RON, enter trading today, November 2, and have a 5-year maturity period ending on October 18, 2027, and a fixed annual interest rate of 9.404%.

• Bucharest Stock Exchange and its partners in the Made in Romania program will hold, in November, four regional workshops in Transylvania, Banat, Moldova and Muntenia to present the business community with opportunities for further development, even in the challenging period of the present and in the near future.
• 16 companies from the Made in Romania program attracted over 200 million euros through the capital market.

Bucharest Stock Exchange (BVB) and its partners in the Made in Romania program are running a roadshow in November in the four most important economic centers of Romania, in order to promote to entrepreneurs solutions for further development of their companies in a period full of challenges for the whole business environment.

Romcarbon is recognized on the national and European market as one of the biggest manufacturers of plastic packaging and filter elements. Over the last decade, the company has invested in green industry and developed one of the most modern recycling facilities in Romania. The company is one of the biggest employers in Buzau county, employing around 900 workers.

Societatea Nationala Nuclearelectrica (SNN), the sole producer of nuclear power and nuclear fuel using CANDU 6 type technology in Romania, company listed on the Bucharest Stock Exchange (BVB) since 2013, will benefit starting October 21, 2022 from the issuer's market-making services provided by BRK Financial Group. SNN, with a capitalization of RON 12 bn, is one of the first companies whose shares were included in the FTSE Russell indices dedicated to emerging markets, FTSE Global All Cap, with the promotion of the Romanian capital market to emerging market status two years ago. Following the public announcement made in August by FTSE Russell, starting September 19, 2022, the company's shares moved from the Mid Cap to Large Cap category.

• Stock indices posted sharp declines in September, sending most international equity markets into correction territory at the end of the first 9 months as investors’ fears about rising interest rates and the possibility of a recession in developed markets gain momentum.
• Total return indices, which also include dividends, ended the first 9 months with a double-digit dip: -10.5% for BET-TR in Romania, -11.7% for S&P500 in the USA, -18.2 % for the STOXX600 in Europe.
• In Romania, a better comparative evolution in relation to other international indices was possible after the BET-TR index reached a new all-time high in August.
• The investment activity intensified in September on the Bucharest Stock Exchange (BVB): more than 140,000 transactions, the second-highest monthly value so far this year.

Radu Hanga, BVB President:

• The investors raised an important alarm signal in September in most international capital markets, not only in Romania. The return of volatility in the markets after a calmer level of trading in the summer months brings with it new trading opportunities.
• Romania was more resilient than other developed capital markets in this complicated international context. We are witnessing a wave of negative data that has led to a deterioration in investment sentiment, especially after it became clear that central banks will raise interest rates, leading some investors to expect an economic slowdown.

Adrian Tanase, BVB CEO:

• The energy and financial sectors hold an important weight in the capital market in Romania, and it is precisely this structure specific to our market that mitigated the negative investment sentiment manifested at the level of other international indices.
• We expect volatility to manifest itself in the capital market in the last quarter of the year, but the level of amplitude cannot be estimated. That is precisely why, for individual investors, the best strategy is to set a longer investment horizon, and for companies, it is an opportunity to take advantage of the mechanisms made available by the capital market.

Banca Comerciala Romana (BCR), one of the most important financial groups in Romania, lists on Wednesday, October 12, a new issue of corporate bonds, worth RON 334mn, under the stock ticker BCR28C. This is the third bond listed by BCR at the Stock Exchange this year, and the total value of BCR bonds available for trading is over RON 4bn.

• The Made in Romania program of the Bucharest Stock Exchange has selected its 15 finalist companies during the Awards Gala on September 22.
• Three of the 15 finalists have been chosen by public vote, while the members of the Made in Romania Jury selected the other 12 Romanian companies that qualified within the Program.
• Made in Romania, through its platform, https://investingromania.com/, is the Bucharest Stock Exchange project that aims to identify the future Romanian economy drivers.

Made in Romania, the Bucharest Stock Exchange program, announced and awarded on Thursday, September 22, the finalists of this year's edition, the future growth drivers of the Romanian economy. Among the 15 finalists, 6 come from the IT&C sector, two from the Commerce sector, 2 from the Manufacturing Industry and one company each belongs to the Agriculture Technology, Pharmaceutical Industry, Food Industry, FMCG and Education zones.

• The Ministry of Finance raised RON 423.1mn and EUR 120.6mn through an issue of government securities dedicated to retail investors (FIDELIS), with three different maturities.
• Through the nine offers carried out in the last three years, the Ministry of Finance attracted RON 13.5bn (EUR 2.7bn) from retail investors.
• The government bonds can be traded on Bucharest Stock Exchange starting Thursday, September 22, transparently, through authorized intermediaries.

• Over 1 million transactions were carried out through the Bucharest Stock Exchange (BVB) in the first 8 months of this year, almost 42% more than in the same period last year.
• More than 117,000 investors are present on the Romanian stock market, according to the FCI data at the end of the first semester.
• The Romanian capital market reached a new all-time high last month when looking at the BET-TR index, which also includes dividends.

Radu Hanga, BVB President:

• We see a growing interest in the Romanian capital market and the investors, both Romanian and international, benefit from an unprecedented sectoral diversification offered by listed companies.
• The capital market in Romania manages to reach new milestones and perform. We have signals that Romania is being viewed with interest by companies in the region who consider getting listed on BVB.

Adrian Tanase, BVB CEO:

• We have provided market participants with safe and stable systems even in conditions of increased volatility, the brokerage community has been active in terms of listings and facilitated investor access by opening online accounts, and the authorities have supported market development projects, which makes us confident in the plans we have for the development of the stock exchange.
• Romania has become attractive not only among large international investors by consolidating its status as an emerging market, but also among companies from outside the borders who want to access the opportunities offered by the Romanian capital market.

• Prime Minister of Moldova, Natalia Gavrilita, and her Romanian counterpart, Nicolae Ionel Ciuca, have opened proceedings at the "Moldova–Romania: Capital Bridges" investment forum in Bucharest.
• The central theme of the first high-level Moldova–Romania forum is the promotion of the opportunities that the capital market has to offer.
• The Republic of Moldova is the European Union’s newest candidate country.
• Romania is Moldova’s most important trading partner and the second-biggest investor on the Moldovan market.
• Romania’s capital market is on the radar of an extensive community of international investors, and is included in the FTSE Russell emerging market indices.

Societatea Nationala Nuclearelectrica (SNN), the sole producer of nuclear power and nuclear fuel using CANDU 6 type technology in Romania, company listed on the Bucharest Stock Exchange (BVB) since 2013, will benefit from September 7 from the issuer's market-making services provided by Wood & Company Financial Services. SNN, with a capitalization of RON 14 bn, is one of the first companies whose shares were included in the FTSE Russell indices dedicated to emerging markets, FTSE Global All Cap, with the promotion of the Romanian capital market to emerging market status in 2020. Recently, with the inclusion announcement made by FTSE Russell in August, starting September 19, 2022, the company's shares will move from the Mid Cap to Large Cap category.

Raiffeisen Bank,  key player in the Romanian banking sector, listed on Wednesday, August 31, the first sustainability bonds issue on the Bucharest Stock Exchange (BVB) worth RON 500,85 mn. The bonds traded under the RBRO27A stock ticker on the Main Market of the stock exchange are the first sustainability bond offer that Raiffeisen Bank lists at BVB and the 5th issue of bonds tradable on the stock exchange, the value of all five bonds issued by Raiffeisen Bank exceeding RON 3bn.

The sustainable, senior, eligible, non-preferential bonds, denominated in RON that enter trading today, August 31, have a maturity of 5 years, due in 2027, and a fixed annual interest rate of 8.920%.

• The Ministry of Finance will launch on Thursday, September 1^st, a new public offer for the sale of Fidelis government bonds for individual investors both in RON and EUR, with maturities between 1 and 3 years, on Bucharest Stock Exchange.
• The bonds denominated in RON have a maturity of 3 years and an interest rate of 8% p.a., and those in EUR have maturities of 1 and 2 years, respectively, and interest rates of 1.85% p.a. and 2.65% p.a.
• It is the ninth FIDELIS public offer carried out by the Ministry of Finance on the capital market starting with July 2020.

Meta Estate Trust, a holding company that operates in the real estate sector, has today, 29 August, entered the equity segment of the Bucharest Stock Exchange’s Multilateral Trading System, the AeRO market. Shares in Meta Estate Trust will be traded under the ticker symbol “MET”. The company’s listing follows its initial public offering, which ran from 20 July to 02 August and brought in 14 million RON from investors.

• The shares of the Bucharest Stock Exchange (BVB) company will be included, from September 19, in the FTSE Russell indices dedicated to emerging markets, FTSE Global Micro Cap.
• BVB will be the seventh Romanian company included in the FTSE Global Micro Cap indices, alongside Aquila, Bittnet Systems, Conpet, Purcari Wineries, Sphera Franchise Group, and Transport Trade Services.
• Six other Romanian companies are part of the FTSE Global All Cap indices: Banca Transilvania, MedLife, Nuclearelectrica, OMV Petrom, One United Properties, and TeraPlast.
• The announcement published on Friday evening, August 19, by the global index provider FTSE Russell also brings news for other Romanian companies included in the FTSE Russell indices dedicated to emerging markets.
• Starting from September 19, Romania will have 13 listed companies included in the FTSE Russell indices dedicated to emerging markets.

• Bucharest Stock Exchange (BVB) investors and analysts are waiting for the end of the financial reporting season to get a first indication of how listed Romanian companies could perform this year.
• In this context, the average daily liquidity in the equity segment was in July below the level of June. Overall, in the first 7 months, the average daily trading value recorded at the equity class level was RON 57.7 million, or EUR 11.7 million, 60% above the same period last year.

Radu Hanga, BVB President:

• The specifics of our stock market, in which the financial and energy fields are strongly represented, contributed to achieving positive results while other markets are still declining.
• The ongoing trend to see companies getting listed on the stock exchange is perhaps one of the most important phenomena of this period. Listing is an essential step in the life of any company and the most important lesson learned from these moments is that the stock market remains relevant regardless of the context.

Adrian Tanase, BVB CEO:

• We have experienced an eventful year for the capital market on several fronts, and this has been reflected in the market volatility and liquidity generated in the first part of the year.
• From the perspective of the BET index, the market still has to recover to reach positive territory, but from the perspective of the BET-TR index, which also includes dividends, the market is already on the plus side and we have been observing a consolidation of this growth rate.

Bucharest Stock Exchange (BVB) and Depozitarul Central continue the digital transformation efforts by launching the Investors Enrollment Platform with the help of its partners, Aurachain and eVOTE. Through this platform, following an identification procedure for individuals, user accounts are created, enabling investors to participate online and vote electronically at the General Shareholders Meetings organized by the companies listed on BVB. This new digital solution was created by Aurachain, a low-code development platform that helps businesses to rapidly digitize their operational processes. As part of the project, eVOTE provides the first online and physical participation solution for the General Shareholders Meetings, introduced in Romania more than two years ago and currently used by over 20 companies listed on BVB.

• The outbreak of the war in Ukraine at the end of February caused the Romanian capital market to decrease by 3.6% in the second month of the year when looking at the BET-TR index, which also includes dividends. Four months later, the capital market returned an increase of 0.8%, also for the BET-TR index.
• The Romanian capital market fully recovered from the decline caused by the war in Ukraine by the end of the first half of this year, but the other external risks are still present and can significantly influence the activity in the capital markets.  
• By comparison, the total return variants of US’s S&P500 index or of Europe’s STOXX600 index went down by 20%, respectively 15% at the end of the first 6 months.

Radu Hanga, BVB President:

• Romania has proven to be a pole of stability in the region. Capital follows the opportunities where they appear and the capital market in Romania has demonstrated its attractiveness.
• The results for the first 6 months show us that the investors who trusted Romania had un upside potential. Opportunities and threats are always present in capital markets.

Adrian Tanase, BVB CEO:

• The first half of the year was intense for the international capital markets, not only for Romania. The investors identified here opportunities to preserve or increase capital, which made Romania an attractive investment destination.
• We expect volatility to continue to be present in the second half of the year, but the amplitude and frequency of these adjustments cannot be predicted.

• The Made in Romania Nominations Committee has selected 50 semi-finalists out of the 350 companies entered in the Program this year

• From 4 to July, 31 the public is invited to support its favourite company by voting on the Made in Romania platform at www.investingromania.com

• What is new in this year’s edition is that the 3 top-voted companies will proceed directly to the final

The “Made in Romania” Nominations Committee has selected its 50 semi-finalists out of the 350 companies nominated on the platform www.investingromania.com. The Made in Romania Program has continued to grow since its launch in 2017, confirming once again with this edition its success among Romania’s business community.

• The eight offer of government bonds carried out in the las two years by the Ministry of Finance (MF) at the Bucharest Stock Exchange (BVB) was successfully concluded, after the retail investors subscribed a total of RON 1.44 billion
• The new FIDELIS government bonds start trading today on BVB
• The Ministry of Finance attracted a total of over RON 12.4 billion (EUR 2.5 billion) through the eighth FIDELIS public offer carried out through the stock exchange since July 2020. 

The Ministry of Finance (MF) listed on June 27, four new issues of FIDELIS government bonds totaling over RON 1.44 bn. The four issues are traded under the stock symbols R2306A, R2506A, R2306AE, R2406AE.

Raiffeisen Bank, key player in the Romanian banking sector, lists on Friday, June 24, a new issue of green bonds at the Bucharest Stock Exchange (BVB) worth RON 525mn. The bonds traded under the RBRO27 stock ticker are the third green bond offer that Raiffeisen Bank lists at BVB, after the 2 issues from 2021, the total value of the 3 offers listed exceeding RON 2bn.

• Today, June 23, will start trading the bonds issued by Crama La Salina, on the Multilateral Trading System (MTS) of BVB, worth EUR 2mn
• The company sold in a private placement at the end of last year, 20,000 guaranteed, non-convertible, dematerialized bonds, with a nominal value of EUR 100 per bond
• The bonds have a maturity of 5 years, maturing on December 10, 2026, and an interest rate of 8% per year, with a quarterly payment.

Crama La Salina, wine producer from Turda, with a vineyard extending over 42 hectares located on the Durgau Hills, in an area with a millennial tradition in viticulture, listed today, June 23, 2022, its first bond issue on the Multilateral Trading System (MTS) of the Bucharest Stock Exchange. The bonds, worth EUR 2mn are traded under the ISSA26E stock ticker.

Banca Comerciala Româna (BCR), one of the most important financial groups in Romania, lists on Wednesday, June 22, a new green  bonds issue, worth RON  702 mn, under the stock ticker BCR27A. It is the second issue of green bonds listed by BCR at the Bucharest Stock Exchange (BVB), after the first one in October last year, worth RON 500 mn.

The non-preferential senior green bonds to be listed have a maturity of 5 years and an annual fixed rate of 9.079%. The new issue of green bonds is in line with the bank's efforts to align with the ESG (Environmental, Social and Governance) criteria. The bonds received a long-term BBB+ rating from the agency rating Fitch.

• Almost 118,000 transactions were made last month on the Bucharest Stock Exchange (BVB), 44.6% more than the same month last year.
• By contrast, the monthly trading value on the share segment was 2.5% last month below the level of May 2021 and reached RON 685 million.  The average daily value of transactions in the share segment suffered a sharper decline, of 11.3%, and reached a level of RON 31.2 million.
• The number of investors keeps going up: according to the data for the first quarter of this year, almost 90,000 Romanian investors are trading on the local stock exchange.

Radu Hanga, BVB President:

• The visibility and notoriety of the Bucharest Stock Exchange remain on an upward trend. Last year was a record year for BVB, we had 23 companies that came to the stock exchange, and this year we already have 9 newly listed companies. We also notice a greater representation of the stock market in the daily life of Romanians: almost 90,000 people already make transactions on the stock exchange through an authorized broker.
• The Romanian Stock Exchange demonstrates that it has the ability and the strength to contribute to the economic development of Romania, whilst consolidating its status as a solid and efficient financing platform for the state and for private companies and representing an intelligent saving alternative through the degree of diversification it offers to investors.

Adrian Tanase, BVB CEO:

• The investors present on the Bucharest Stock Exchange have adopted a wait-and-see attitude in a rather complicated regional and global context. However, more transactions took place but at a lower trading value, which indicates that there is an expectation to see a series of much clearer signals that validate or not the investment strategy. Those with a long investment horizon benefit from the current context.
• The stock exchange has become a much more appealing platform for the Romanians’ savings because the offer of companies listed on BVB has become more and more diversified. In addition to financial and energy companies, we see a very good representation of listed companies in the field of technology, but also construction materials or agriculture.

Sipex Company, the company operating in the distribution of construction materials and finishes field, debuted today, June 3rd, on the AeRO market, the equity segment of the Multilateral Trading System of the Bucharest Stock Exchange (BVB). The company’s shares will be traded under the SPX stock ticker. The company listing was preceded by the private placement through which it attracted RON 10.6 mn from the capital market investors. The anticipated market capitalization of the company is RON 170.6 mn.

• The Ministry of Finance will launch on Monday, June 6, a new public offer for the sale of Fidelis government bonds for individual investors both in RON and EUR, with maturities between 1 and 3 years, on Bucharest Stock Exchange.
• It is the eighth FIDELIS public offer carried out by the Ministry of Finance on the capital market starting with July 2020. Through the first seven offers carried out since 2020, the Ministry of Finance attracted from the retail investors over RON 11bn (EUR 2.2bn)

• The shares of Aquila Part Prod Com (AQ) will be included, from June 20, 2022, in the FTSE Russell indices dedicated to emerging markets, FTSE Global Micro Cap.
• Aquila will be the sixth Romanian company included in the FTSE Global Micro Cap indices, along with Purcari Wineries, Conpet, IMPACT Developer & Contractor, Sphera Franchise Group and Transport Trade Services.
• The FTSE Russell decision comes just a few months after the listing of Aquila on the Main Market, on November 29, 2021.
• Six other Romanian companies are included in the FTSE Global All Cap indices: MedLife, Banca Transilvania, Nuclearelectrica, OMV Petrom, TeraPlast and One United Properties.
• As of June 20, Romania will have 12 listed companies that are part of the FTSE Russell indices dedicated to emerging markets (6 in the FTSE Global Micro Cap index and 6 in the FTSE Global All Cap index).

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).