Раду Ханга
Dumitru Budianschi, Chairman of the NCFM Administrative Council, emphasized for LP that the development of the capital market trading infrastructure in line with European standards is an important task for Moldova’s supervisory authority. “We very much expect that the advanced technologies of the Bucharest Stock Exchange will play a significant role in enhancing access to finance and diversifying opportunities for investors on the capital market,” he said.
Negotiations on the format of opening a branch of the Bucharest Stock Exchange have been underway since 2022. The control over the Single Depository, which the Romanian side insisted on, has been a controversial point for a long time. In particular, there was a question of connecting the Single Central Depository of Moldova to the Romanian infrastructure. The authorities also agreed on the possibility of dual listing of Moldovan companies on the Moldovan and foreign stock exchanges, on mechanisms for trading in shares and other financial instruments.
It is not yet known how the negotiations ended, but the Moldovan side has agreed its share in the new Chisinau Stock Exchange. The Public Property Agency will act as a state co-founder. At the same time, the existing stock exchange of Moldova will not be abolished and will continue to operate if it can withstand the competition.
The Bucharest Stock Exchange, headed by Radu Hanga, has been operating for decades, with hundreds of companies listed and a great experience in attracting investors. According to him, the systems are currently being unified and the legislation is being harmonized for the normal functioning of the stock exchange in Moldova.
“The capital stock market in Moldova is not yet as developed as we would like it to be. It is not well developed in Romania either. But the story is not over, everything is ahead. When you look in the mirror and you know what still needs to be done and how to do it, everything is good,” Hanga said.
