Sibiu Exchange prepares 8m-euro public offering

The Sibiu Monetary-Financial and Commodities Exchange, the only market where derivatives (options and futures) are currently traded, will propose to its shareholders in mid-July to launch of a public share offering, with a view to listing the shares on a capital market. The proposal is part of the agenda of an Extraordinary General Meeting of Shareholders, set to take place on July 20th. According to market representatives, the listing will take place if the Sibiu market’s intentions of closing a partnership with an international market do not materialise in time for the shareholders’ meeting. “We will probably go for the listing if we don’t find a way to cooperate with one of the three international exchanges we are currently in talks with,” Theodor Ancuta, chairman of the Sibiu Exchange told ZF. The operator of the Sibiu market is in talks with Euronext, Deutsche Borse and the pan-Scandinavian exchange OMX. According to the proposition, which the Sibiu Exchange made to its shareholders, the market is to issue 16,270 shares with a nominal value of 200 RON, at a price of 1,600 RON/share. The shareholders may decide to split the shares, thus increasing their number and reducing their price, in an attempt to make them more attractive to potential investors. According to the proposition put forward to the shareholders, the offering could be worth 26 million RON (almost 8 million euros). Initially, the shares will be offered to the market’s current shareholders, as stated under legislation regarding trading companies. If all the newly issued shares were sold, they would account for around 41% of the capital resulting from the increase.