These days have marked 20 years since the first stock exchange transactions in post-communist Romania. The Bucharest Stock Exchange (BVB) has organized an official event, inviting all of its former presidents and CEOs as well as the representatives of brokerage companies.
20 years since the first transaction, the Bucharest Stock Exchange looks optimistically to the future. The state was the one that populated the stock exchange with over one hundred companies, while today, just like in 1995, the population and private companies use the services of the banks not of the brokers when it comes to obtaining financing or to saving.
The BVB capitalization’s GDP share stood below 1 per cent in 1995. Today, the stock exchange’s capitalization stands at 17 per cent of GDP. “Many expected the Bucharest Stock Exchange to be much further today. The good days are yet to come, but I believe they are close,” Stere Farmache, member of BVB’s Board of Directors, stated at the official anniversary ceremony.
The Bucharest Stock Exchange reopened on November 20, 1995, after being closed for 50 years during the period of the communist regime. Six shares belonging to companies that were privatized en masse were traded during BVB’s first session.