Romanian capital market - second in the region by four-year IPOs value

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The total value of the companies listed on the Romanian capital market in the last four years was almost 1.1 billion euro, placing it second in the region by this criterion, show IPO Watch Europe reports made available by PricewaterhouseCoopers, the Bucharest Stock Exchange (BVB) informed in a release on Monday.

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"The Bucharest Stock Exchange has grown in the past four years into one of the most dynamic markets in Central and Eastern Europe, with successfully completed initial public offerings of over one billion euro. According to IPO Watch Europe data provided by PricewaterhouseCoopers (PwC), initial public offerings worth nearly 1.1 billion euro have been registered in the past four years on the Bucharest Stock Exchange," the document shows.

Topping the ranking by the value of the IPOs in the last four years is the Warsaw Stock Exchange with more than 2.69 billion euro, followed by Bucharest with 1.09 million euro and Vienna with 194 million euro. On the following positions are Sofia with 37 million euro, Athens with 35 million euro and Budapest with 13 million euro.

Three private and two state-owned companies have been listed on the BVB since 2013.

"This year saw a record-high listing price of a private company on the BVB: DIGI Communications (DIGI) sold a 25.6 percent stake for a total of 207 million euro. In June, another Romanian company — AAGES (AAG) got listed after the shareholders sold 15 percent of the company for the equivalent of 1.2 million euro. At the end of last year, another Romanian private company, private healthcare operator MedLife (M) sold a 44 percent stake for the equivalent of 51 million euro. In 2014, a majority state-owned company was listed on the stock exchange: Electrica's 51 percent stake was put up on offer for 443 million euros," the BVB informs.

At the end of 2013, Romgaz (SNG) got listed on the BVB, raising 391 million euro for a stake of 15 percent.

"The Romanian capital market has developed in the past years driven by reforms and the constant market modernization process. In less than one year, two large IPOs for private companies have been completed, the largest in the entire history of the Romanian capital market, giving us hope that we will witness further listings on the Bucharest Stock Exchange," said BVB president Lucian Anghel.

He remarked that a historic leap was made at regional level, as Romania's capital market has grown into a powerful market for public offerings, outperforming even emerging and developed markets.

"And this happened in Romania, a country placed at the end of the EU ranking by the per capita Gross Domestic Product," said Anghel. AGERPRES (RO — author: Florin Barbuta, editor: Mariana Nica; EN — author: Simona Klodnischi, editor: Adina Panaitescu)

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