The CONPET S.A. Company – the operator of the National Transmission System of the crude oil and derivatives through pipelines, headquartered in Ploiesti, has been admitted in the representative indexes BET and BET-TR of the Bucharest Stock Exchange (BVB). The announcement was officially made by the company on March 6, 2017, through a press release.
According to the press release, the announcement of CONPET’s admission was made on March 3, 2017, following the quarterly meeting of the Indexes Commission, in which, for the first time, it was decided to expand the number of the companies which are part of the BET and BET-TR indexes, from 10 to 12 companies. “CONPET S.A. has been closely monitored by the Bucharest Stock Exchange for six months, starting from October 5, 2016, when the company was included on the list of the eligible companies (watchlist) in order to include it in the calculation of the BET and BET-TR indexes. With its inclusion in the BET and BET-TR indexes, CONPET is included in the 7 indexes of the total of 9 indexes, which translates into performance, economic and financial stability, transparency, visibility and high interest of the investors actin on the Romanian and foreign capital markets”, CONPET announced.
BET reference index reflects the evolution of the most traded stocks of the companies on the regulated market of the Bucharest Stock Exchange, the main selection criterion of the companies included in this index being the liquidity. The transparency of the listed companies (the issuers), as well as the quality of the reports and communication with the investors are also selection criteria, starting from 2015. The BET-TR (BET Total Return) index reflects the evolution of the most liquid 10 stocks listed included in the BET, as well as the dividends given to the shareholders and investors.
“CONPET currently has a market capitalization of RON 829,391,182.4, being placed on the 15 place in Top 25 of the issuers after the market capitalization. The stock price (COTE) has doubled, actually, since the company’s stocks have been listed on the regulated market, managed by BVB, starting from RON 44 in 2013 to RON 95.80 in 2017”, shows the press release.
The CONPET General Manger, Liviu Ilasi, believes that the appreciation of the value and results of the company among the most performant companies listed at the Bucharest Stock Exchange creates the needed conditions for a sustainable development of the business, both domestically and at regional and European level. “Our objective was to increase the company’s transparency and visibility on the capital market, to ensure a wider openness towards the shareholders and investors, in order to increase the credibility and to attract investments for our strategic projects”, Liviu Ilasi also mentioned.
It was actually concluded that the value of the company CONPET S.A. is recognized on the Romanian capital market, a value gained by a performant management that has met the quality and quantity standards imposed by the Bucharest Stock Exchange, correctly and efficiently managing the business and ensuring a high level of transparency and visibility among the shareholders and investors.