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April 1, 2023

BVB CEO opposes listing FP on another stock exchange

Valentin Ionescu, the CEO of the Bucharest Stock Exchange (BVB), said on Saturday that he does not want the ‘Proprietatea’ Fund (FP) to be listed on another stock exchange abroad, because this issuer can contribute to consolidating the Romanian capital market. Ionescu attended a seminar organised by the brokerage firm Intercapital Invest jointly with Franklin Templeton Investment about the listing of FP to BVB. He added that a possible double listing will not affect the Fund’s shareholders, because in similar situations the bulk of transactions continued to be done on the main exchange.

“As CEO of the Stock Exchange, I cannot make recommendations, but as a former broker I would recommend investors not to sell the FP stock, if they are not constrained, because FP is undervalued,” Ionescu explained. In his turn, the CEO of Intercapital Invest, Razvan Pasol said the stock exchange is at a lower level, because of the bad economic context.

Ionescu explained that Romgaz shares will not be listed this year, because it takes longer to prepare such an initial public offer, and authorities have not started the procedures yet.

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