14 C
Bucharest
October 21, 2021
BUSINESS

Investors oppose Rasdaq’s dismantling

The Capital Market Investors Association (AIPC) urged the ‘Proprietatea’ Fund (FP), the Financial Investment Companies (SIF) and investment funds to join it in the attempt to stop CNVM’s plan aimed at dismantling the OTC market Rasdaq and move listed companies to BVB or ATS, Mediafax reports. The Association reminds that the booklet about the floating of FP on the stock exchange lists the categories of assets in which the Fund may invest, warning that the shares traded on alternate platforms are absent from the list. Earlier this year, the National Securities Commission (CNVM) put on public debate a draft regulation which provides that some companies will be transferred from Rasdaq to BVB, and others to ATS. BVB will choose and send to the Commission the list of issuers that met the conditions of admission to a regulated market on December 31 last year. Later, the Stock Exchange would inform the companies which met these conditions, simultaneously with notifying CNVM, and these issuers will have to consult their shareholders about the transfer to BVB quotation. The shares that do not meet the conditions of listing on BVB will be traded on the alternate trading system ATS, 18 months after the regulation gets enforced. Investors’ representatives said FP holds shares in 20 companies listed on Rasdaq.

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