About Company
Bucharest Stock Exchange
Established: 1995
Address: 4-8 Nicolae Titulescu Avenue,
1st floor, East Wing, district 1, America House Building, 011141 Bucharest, Romania
Contact Name: Ștefan Pompi Musgociu
Email: [email protected]
Website: www.bvb.ro
- Joined FEAS in 2003-
Radu Hanga
President
Year in revew
2023 one of the best years in the Romanian capital market’s history in terms of market liquidity, listings, indices return and evolution of investors number. The average daily liquidity rose by 60% to almost EUR 31mn, the market capitalization grew by 47%, to more than EUR 62bn, and the number of investors reached an all-time high of more than 168,000. BET-TR index rose by almost 40% last year, which was the best performance in the region and the number of listings reached 35, with a total value of EUR 5.5bn. Hidroelectrica’s IPO is one of the main drivers for the bounce in market capitalization, due both to the size of the company and the value of the IPO. With a value of almost EUR 1.9bn, Hidroelectrica was the largest IPO in Europe and the fourth in the world in 2023, and the Hidroelectrica phenomenon brought tens of thousands of Romanians closer to the stock market and proved that Romanians have an appetite for investment, which is encouraging for Romanians companies to list on the local stock exchange.
This huge IPO was a challenge for the entire market, especially for the local intermediaries, banks or brokerage firms, who had a busy time during the IPO and had to deal with an avalanche of requests from existing customers, but also from those who opened an investment account to subscribe to Hidroelectrica. During the offer, we saw tens of thousands of Romanians who opened trading accounts. They started with Hidroelectrica, but many of them will invest in other companies listed on the Romanian stock market in the future.
I’m confident about the future, considering both the measures to accelerate development contained in the Capital Market Development Strategy approved by the Romanian Government, and the perspective of upgrade to Emerging Market status also by MSCI. The Strategy was approved last year and part of its measures will start to be implemented already this year. It’s a pool of measures and processes that will have to be implemented up till 2026, in order to boost the market liquidity and to increase the Romanian stock market image on the international investors’ radars.
The Federation of Euro-Asian Stock Exchanges