Bonds of Globalworth will start trading on Bucharest Stock Exchange on July 31 2017

By Andra Beltz

Bucharest Stock Exchange (BVB) informs that the bonds of Globalworth will start trading on the main market on July 31, 2017, and are defined by the following: 5,500 bonds, nominative, dematerialized, freely transferable, at a nominal value of EUR 100,000 and a total value worth EUR 550 million. The fixed interest rate which will be paid yearly is 2.875%, while the maturity date is set for June 20, 2022.

Trading in these bonds is executed in EUR (as the nominal value is defined in EUR) and their settlement is carried out in RON. Based on the nominal value expressed in EUR, gross price (%) and volume introduced for an order entered for these bonds, the BVB’s system automatically calculates the order’s value expressed in EUR as well as a corresponding value expressed in RON, taking into account the currency rate set by BNR (National Bank of Romania) which is valid for that trading session. The trade resulted, having the value expressed in RON, is sent to Central Depository for performing the settlement in RON, using the usual procedure.

The currency rate set by BNR on the banking day before a trading session is considered for carrying out the calculation of the bonds’ value (expressed in RON) of the orders executed on that trading session. This currency rate is applied for the whole trading program of these bonds in that trading session.

Globalworth is a real estate investment company operating in Central and South Eastern Europe, focusing mainly on the Romanian market. The company is managed by about 70 professionals and its portfolio includes high quality real estate investments located in Romania, with an estimated value of EUR 983.3 million on March 31, 2017. (rbj/27.07.2017)

LEI Code Legal Entity Identifier for Bucharest Stock Exchange

By rbj

Bucharest Stock Exchange (BVB) informs that the company holds a Legal Entity Identifier Code (LEI code), as part of the process of alignment with the requirements imposed on financial market participants by the most recent European package of measures (MAD/MAR and MIFID II/MIFIR), applicable also to the issuers of financial instruments.

The Legal Entity Identifier (LEI index) is a 20-digit, alpha-numeric code based on the ISO 17442:2012 standard developed by the International Organization for Standardization (ISO), that enables clear and unique identification on a global level of legal entities participating in financial transactions. Thus, the LEI code enhances the trust among the market participants.

The LEI index for Bucharest Stock Exchange is the following: 2549004BOCU15LMNDJ92, information that can be primarily used to meet reporting requirements based on MAR and MIFIR provisions.

The European Securities and Markets Authority (ESMA) recently announced that the Financial Instruments Reference Data System (FIRDS) becomes operational as of July, 17. The issuers of financial instruments will make available LEI code details to allow data transmission to this system by the BVB, as the trading venue where these instruments are traded. (rbj/11.07.2017)

Bucharest Stock Exchange closer to its investors with APPLY BVB

By rbj

Bucharest Stock Exchange (BVB) launches APPLY BVB, a free online application for those interested in BVB’s activity as a listed company. The application is a tool that brings a new quality to investor relations. It gives immediate access to the latest BVB financial results, stock prices, news for investors, analysts' reports and press releases. In addition, APPLY BVB includes details about the strategy, business model and governance system. Investors can choose to include in the calendar next financial events and to receive alerts about news, events, and results.

Available for free on Google Play and App Store.

”The mission of the stock exchange is to set the standards in the field of communication between listed companies and investors. By launching APPLY BVB we take a major step in this regard. We have not only created an innovative and efficient product for all those interested in investing in BVB shares, but we suggest other listed companies continue to develop how investor relations are maintained. Bucharest Stock Exchange, starting today, is in the forefront of European companies using refined instruments of communication with investors," said Ludwik Sobolewski, CEO of BVB. BVB has in its portfolio three other mobile apps, available free of charge: The BVB application provides access to market data, news, prices for financial instruments traded on BVB, and it is available for free on Google Play and App Store.

The BVB Trading application is dedicated to investors who want to actively manage their portfolios and trade on their mobile. The app is available free of charge on Google Play and App Store for broker customers who provide access to the Arena XT trading platform.

FinLit Quiz lets you test your financial education knowledge and is available for free on Google Play and App Store. The Mobile Application is part of the "Fluent in Finante" universal investor platform, available at www.fluentinfinante.ro.

Recently, BVB optimized the mobile version of the website www.bvb.ro. The website was visited by more than 550,000 users in 2016, 20% more than the previous year. More than 4.3 million pages were accessed in one year, half of the sessions were made by persons between 18-34 years old.(rbj/14.06.2017)

BVB: Global Money Week

By rbj

On the occasion of the Global Money Week, which this year will take place between March 27th and April 2nd, Bucharest Stock Exchange (BVB) together with the Financial Supervisory Authority (ASF) organise an official opening of the trading session on March 27th, beginning with 9:15 AM.

Global Money Week (GMW) is a money awareness celebration. The goal is to teach children and youth about money, saving, creating livelihoods, gaining employment and becoming an entrepreneur through fun and interactive activities. Every year, entire communities take action to create awareness, challenge out of date financial policies and give young people the tools and inspiration they need to shape their own future. GMW takes place annually, during the second week of March. The events are organised by schools, universities, government ministries, financial institutions, members of the civil society and youth worldwide. GMW is initiated and coordinated by Child & Youth Finance International (CYFI).

Opening the trading session of at the Bucharest Stock Exchange will be one of the local kick-off events for the GlobLucida Sans Unicodeal Money Week. The event is organized by BVB in partnership with the Financial Regulatory Authority (ASF) and the FERM Association. (rbj/27.03.2017)

Over 500 people attend the Individual Investors Forum organized by BVB

By rbj

Over 500 people attended the 6th edition of the Individual Investors Forum, one of the benchmark events dedicated to retail investors and organized by the Bucharest Stock Exchange (BVB). Throughout last Saturday, March 18th, the participants who were interested in investments and the management of personal finances were presented the up-to-date situation of the capital market, took part in interactive sessions regarding behavioral finances and had the opportunity to attend seminars dedicated to either beginner or advanced investors.

"People came in large numbers to this event as a result of the constant BVB effort to increase the activity of individual investors. The Romanians show more and more interest in how to manage the personal finances and in how to invest in the stock market. We are happy as BVB managed to set new benchmarks when it comes to improving the financial literacy rate in Romania," BVB’s CEO Ludwik Sobolewski said.

"The success we are witnessing now is not a chance and did not happen overnight," stated Lucian Anghel, BVB Chairman. "This success was due to several other financial education projects we had conducted during the last years. Projects such as Condus de Randament, Leii BVB and the Individual Investors Forum are just some of the initiatives we have initiated exclusively for retail investors and now we see them growing in number and interest towards the capital market," BVB’s chairman added.

The first part of the event included debates and presentations. Also, the public was invited to identify their investment needs and objectives and to get accustomed to the available investment options on the market. The speakers discussed the yields, the most popular financial instruments in 2017, investment strategies, behavioral finance, investor performance assessment and how to benefit from the stocks received from the privatization process in the `90s. In addition, there were presented not only the successful story of listed companies, like the Bucharest Stock Exchange, MedLife and SIF Moldova, but also the winning strategies of the competitors from Condus de Randament, where the first 50 participants had double-digit yields.

The second part of the event was structured in two different sessions: one for beginners and the other one for advanced investors. Experienced investors discussed active and passive management or the role of warrants in investment strategies. The new investors could attended a seminar where they learnt how the capital market works and they discussed with experts about investing in the stock market.

The participants to the Forum were able to sing up for a contest, where those who buy shares worth a minimum of RON 1,000 from BVB by the end of March will participate in a draw where the winner will be awarded by Happy Tour with a city break in Romania.(rbj/20.03.2017)

BVB expands BET and BET-TR to 12 companies for the first time>

BVB expands its main indices, BET and BET-TR, to 12 companies >>>CONPET and MedLife are the new additions to the main indices

By rbj

Bucharest Stock Excange (BVB) announces that it will expand the composition of the main index for the first time since its launch. The BVB Index Committee decided on the 3rd of March, 2017, during its quarterly meeting, to expand the number of companies included in the BET and BET-TR indices from 10 to 12.

„It is the first time when the number of BET and BET-TR components exceed 10 companies. This change is the effect of the BVB’s endeavors with regard to the reconstruction measures of local market benchmark indices adopted at the end of last year, supported by the eligible companies through meeting of the quantitative and qualitative standards imposed by BVB,” said Ludwik Sobolewski, CEO of the Bucharest Stock Exchange.

“The seeds for the enlargement of the main indices were planted last year, when a new BET with variable composition was introduced together with a review list for companies eligible for BET and in addition the largest IPO of a privately-owned company arrived to the market,” said Lucian Anghel, Chairman of the Bucharest Stock Exchange.

The two new companies joining the main indices, BETand BET-TR, are CONPET (symbol COTE) and MedLife (symbol M). CONPET has the transport through pipelines and by rail of the domestic and import crude, rich gas, condensate and liquid ethane to the refineries as core business and Medlife is the largest private healthcare services provider in Romania.

„We are pleased to see CONPET, a company with high quality management, solid corporate governance and proven openess towards investors. This shows that companies who perform well can be in the spotlight of the capital market,” Anghel stated.

„The presence of MedLife in the main indices was possible because it impressively passed the test facing the investors at recent IPO. Inclusion in BET marks the entrance of a new sector in the main index,” Sobolewski added.

The weights of the indices’ components will be determined based on the number of shares and closing prices registered at the end of the trading session of March 10, 2017. The new structures of BVB indices will be announced at the end of March 10, 2017, and will become effective as of March 20, 2017.(rbj/03.03.2016)

BVB and the Rotary Club sign collaboration agreement on providing free financial and entrepreneurship education

By Emea Riga

Bucharest Stock Exchange (BVB) together with the Rotary International District 2241 Romania and the Republic of Moldova signed a partnership agreement in which virtue the two institutions will contribute to the development of education in areas such as the economy, financial investments and entrepreneurship through training programs destined for, but not limited to, the young people.

We are very happy to have signed partnership with the Rotary International District 2241 Romania and the Republic of Moldova, as it furthers our endeavor to improve the financial literacy and to encourage entrepreneurial initiatives in Romania. We encourage other organizations, associations and even companies to follow the footsteps of the Rotary Club and support their members and employees with free financial and capital markets education. Together, we have a greater chance of succeeding”, stated Lucian Anghel, BVB President.

The Partnership was signed on Tuesday, February 28th, 2017, by Mircea Solovastru, Governor, Rotary International District 2241 Romania and the Republic of Moldova, and Ludwik Sobolewski, Bucharest Stock Exchange CEO.

As stated in the collaboration agreement, throughout 2017, Bucharest Stock Exchange will organize a series of educational seminars and gatherings together with the Rotary Club during which it present its activity, projects and programs to the Rotary Club members. This includes organization of ‘Fluent in Finance’ education seminars throughout the country as well as a pilot educational project ‘Invest Quest’, that will be held in Bucharest, between March 29th and April 26th, 2017. Invest Quest project will consist of 5 meetings of estimated 2 hours each, addressing different topics related to entrepreneurial and financial investment education. Speakers in the project include, among others: Cristian Logofatu (Bittnet Systems CFO), Cosmin Malureanu (Ascendia, CEO), Adrian Mitroi (CFA, MBA, University Lecturer), Sergiu Negut (Business Angel) and Dan Rusu (Senior Financial Analyst, Banca Transilvania).

Invest Quest seminars are free of charge and open to all, following the Rotary’s motto ‘service above self’ through which the Rotarians support and offer to the society cultural, social and medical initiatives.

Apart from the educational modules, a virtual trading competition in a demo setting will run between April 5th and May 31st (8 weeks), with an aim of providing the participants an almost real-life trading experience through the BVB’s Arena-XT Trading Platform. The person that will attend at least 2 of the seminar modules and manages to obtain the biggest return on a virtual, 20,000 RON portfolio will win a cash prize of 5,000 RON, offered by the Rotary Club.

"The 2016-2017 Rotary International Governorship focuses on education. Ever since the beginning of my mandate, in July 2016, I have encouraged the clubs of Rotary International District 2241 Romania and the Republic of Moldova to focus on education, regardless of the age group or educational background of the participants in our programs. The partnership with the Bucharest Stock Exchange is in line with our priority to focus on education. Together, we aim to encourage young people, as well as Rotarians with diverse professional backgrounds, to discover a topic perhaps too little known to Romanian society. By implementing this project, we will provide the opportunity for people to extend their knowledge and even become future capital market professionals”, stated Mircea Solovastru, Governor, Rotary International District 2241 Romania and the Republic of Moldova.

"The program which we elaborated on was designed for the cooperation within the exquisite network of members of Rotary Club Romania. It is based on the strategic initiatives conducted by BVB towards investors, professional financial intermediaries and entrepreneurs and serves our goal to create clusters of competences, skills and knowledge. We are proud that this new original line of BVB services will be deployed in partnership with one of the most renowned international non-governmental organizations”, stated Ludwik Sobolewski, BVB CEO.(rbj/28.02.2017)

Bucharest Stock Exchange: BET index the highest value since January 20, 2008

*** BET index closes at 8,035 points, the highest value since January 20, 2008 *** BET-TR goes up to 9,925 points, continues rally to 10,000 points *** Ludwik Sobolewski, BVB CEO: Romania is leaving the territory of low valuations and low trading activity

By rbj

Double-digit growth rates return to market as investors regain optimism amid improved macroeconomics, strong dividends and positive corporate financial results. The Bucharest Stock Exchange (BVB) saw the two key indices, BET and BET-TR, surge by about 13.4% each in just 8 weeks. The BET index, which includes the top 10 most liquid shares of the companies listed on the local market, closed on Wednesday at 8,035 points, the highest values since January 20, 2008.

"As the result of consequent modernization of the capital market, its growing openness to international flows of capital, its attractiveness to domestic investors, Romania is leaving the territory of low valuations and low trading activity," said BVB’s CEO Ludwik Sobolewski.

BVB’s other indices: BET-TR, BET-XT, BET-XT-TR and BET-Plus have also reported historic record values. BET-TR index, which reflects the evolution of the most ten liquid shares listed on BVB included in the BET and dividends distributed to shareholders of these companies, closed on Wednesday at 9,925 points, 13.4% higher than the end of 2016, continuing its rally to 10,000 points.

"Investors are now rewarded for their trust in the capital market. The market shows an outstanding dynamics as it exceeded in just eight weeks the level even the most optimistic analysts had predicted for the end of the year. We believe the macroeconomic evolution far above the economic growth within the European Union, the payment of consistent dividends following the positive yearly financial results and the perspective to upgrade Romania to the Emerging Market status, grounded investors’ optimism," said BVB’s chairman Lucian Anghel.

"The returns obtained from the dividends and share prices neared 30% in the last three years if we take into account the evolution of the BET-TR index, to which it adds up about 12% in less than two months," Anghel added.

Romania had the biggest dividend yields in the world last year, a trend which is likely to continue in 2017, according to Carsten Hesse, EME Equity Strategist at Berenberg. "I did a conservative analysis and I can happily announce that it is going to be around 7% the yield again in 2017, while some companies will pay double digit figures as the Government wants state owned companies to pay at least 90% of their earnings," Hesse added at a conference organized by BVB this month. On its way to be promoted to the Emerging Markets status, Romania is getting closer to meet not only the criteria of FTSE Russell, but also those of MSCI, with three companies already fulfilling the requirements.(rbj/23.02.2017)

BVB adds transparency guidelines for the AeRO Premium companies

Imagine similară

By rbj

Bucharest Stock Exchange (BVB) encourages issuers to hold meetings and conference calls with analysts and investors and has reviewed the rules based on which it decides to include listed companies on the Premium category of the AeRO market, which is dedicated to small and medium companies in Romania. The new guidelines will become effective starting from February 15, 2017.

''We have this outstanding AeRO market, where integrity and corporate governance are essential values. The Bucharest Stock Exchange has always pledged for the market rules to be followed. We believe entrepreneurs will embrace and appreciate the new guidelines. The capital market is for strong people and one must not take transparency for bureaucracy,'' BVB’s CEO Ludwik Sobolewski said.

According to the BVB decision, the companies will be included in the AeRO Premium category based on several criteria such as liquidity and management of investor relations.

For improved transparency in investor relations, the issuers included in the AeRO Premium category will have to:

-Include a section dedicated to the relation with the investors on the company webpage;

-Write quarterly reports and send them within a maximum of 60 days after the reporting period is over. The reports should include at least the accounting balance, the profit and loss account (according to the regulations for interim reporting);

-Use the IRS platform to send and publish the reports and communiqués;

-Meet the deadlines as stipulated in the financial communication agenda submitted at the beginning of each year.

The AeRO market was launched in February 2015, while the Premium category was introduced in February last year.(rbj/2017.02.15)

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Constantin Radut
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