What does the Romanian capital market need most? Most brokers would say it needs more investment alternatives.
Awaiting the listing of some state-owned companies as promised by the government, a Romanian bourse brokerage is getting ready to float its own stock on the Bourse.
Broker, a financial investment services company (SSIF), plans to list its stock on the Bucharest Stock Exchange within a month, according to capital market sources. The company is to launch an initial public sale offering, which will make it possible for its stock to be traded on the capital market. The chairman of the brokerage, Petru Prunea, could not be contacted for comment on the issue.
SSIF Broker is headquartered in Cluj-Napoca and is one of the most highly capitalised brokerages on the Romanian market, with a share capital worth 175 billion ROL (4.3 million euros). Furthermore, its last capital increase was concluded only recently. The most important advantage to be obtained by Broker in the wake of its listing will be its increased visibility on the market, and not the sums actually raised through the stock issue.
Broker, with about 500 shareholders, is the most important Romanian-held bourse intermediation company on the market, coming second in terms of the value of transactions it helped conclude on the Bucharest Stock Exchange (BSE) since the beginning of the year. In first place is Alpha Finance, the brokerage belonging to the Greek bank Alpha Bank. Since early this year, Broker has held a market share of 7.7%, having aided the closing of transactions worth 1,619 billion ROL (40 million euros).
vlad.nicolaescu@zf.ro
