BVB’s Board of Directors has summoned shareholders to an extraordinary meeting on September 29 to approve the participation in the authorized capital of the new stock exchange in Moldova. Information materials on the agenda items will be published on August 29, according to a press release published on BVB’s website on August 22.
Last December, the Moldovan Ministry of Economic Development and Digitalization announced that the state will participate as a shareholder in the new stock exchange in Chisinau. At the same time, BVB President Radu Hanga said that the Bucharest Stock Exchange wanted to assist with its experience and resources in its establishment and would like to see the Moldovan state among its local partners.
“Our position is quite simple. We see Moldova as a sovereign state next to Romania. We try to help them by using our experience and resources. By that I mean the capital, technological and human resources that we have in the Bucharest Stock Exchange. And the experience that we have accumulated. Our approach is to participate in a project where we have local partners. Moreover, we would very much like the Moldovan state to be among these local partners. We have, I think, publicly announced this in Moldova, we have also announced a positive message from the Moldovan government that it has been decided that they will participate with us in this project, and we will continue to move in this direction,” Radu Hanga said.
Even earlier, BVB announced that it is studying the possibilities of creating a stock exchange in Chisinau together with the Moldovan state and other partners in Moldova.
“The Bucharest Stock Exchange, which has 30 years of experience, intends to apply its accumulated knowledge to contribute to the creation of a modern stock exchange in Moldova. The goal is to create a solid capital market, stimulating regional cooperation and providing access to finance to companies from both countries that could become regional leaders. BVB is confident in the growth potential of the Moldovan economy and believes that the development of a competitive capital market around the Chisinau Stock Exchange will contribute to this process,” BVB said in a press release.
In the first six months of this year, BVB Group reported a net profit of 1.48 million Romanian lei (5.74 million Moldovan lei), 83% lower than the result obtained in the first half of last year, due to lower revenues and higher expenses.
