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May 11, 2021

Bucharest and Sibiu stock exchanges, close to merger

+ The Bucharest Stock Exchange and the SIBEX Sibiu Stock Exchange have concluded a coordination agreement

Regional ambitions but also interests lacking significant economic support have meant that our country is one of the few in Europe (among others its size) that has two stock exchanges. Even though the object of their activity is not similar, still, a mid-sized emerging market does not have too many arguments in favour of the existence of two capital market poles.

That is why the closing of a coordination agreement between the Bucharest Stock Exchange (BVB) and the Sibiu Stock Exchange (SIBEX) is welcome. According to a communique issued by BVB, the agreement “will allow carrying out of concrete steps in the following period toward the potential merger process between the two companies. The agreement allows the implementation of critical elements for such a process, i.e. the phase of the evaluation of the companies. Teams of experts from both companies have been dedicated to this project in order to establish principles and conditions for collaboration, aiming at creating the fundamentals with regard to the potential merger.”

BVB - pag 5Ludwik Sobolewski, CEO of the BVB commented: “We are satisfied that one of the most challenging projects among those ran by the Bucharest Stock Exchange is getting a new impulse. We believe that the absorption of the SIBEX by the BVB may enhance the market infrastructure bringing only advantages for the stakeholders of the BVB and this is the goal BVB will uncompromisingly realize when progressing with this undertaking”.

“We look for the close coordination efforts of the two teams to generate a successful project that will meet the expectations of both shareholders and market participants” said Ovidiu Petru, the CEO of SIBEX.

Bucharest Stock Exchange runs markets for shares, bonds and other instruments, through regulated platforms and alternative systems, and provides a wide range of services to participants of financial markets. Bucharest Stock Exchange is a public company, listed on its own market since 2010.

Sibex - pag 5Sibex – Sibiu Stock Exchange was founded in 1994, having as initial main activity commodities intermediation. Starting with 1997 the company focused on the development and the administration of financial derivatives, such as futures contracts. Currently, SIBEX is market operator and administrator of a derivatives markets and also operator of a cash regulated market and an alternative trading system. SIBEX is since 2010 a company listed on its own regulated securities market.

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