Stock Exchange shares to start trading on 8th of June

The shares of the Bucharest Stock Exchange (BSE), the company that operates the main stock market in Romania, will start trading on the Stock Exchange on Tuesday 8th of June, with this being the first major floatation after an almost two-year hiatus.
The Stock Exchange is currently put at around 66-70 million euros, according to buy and sell ads published over the last few weeks, over 30 times last year’s net profit of 2 million euros.
Once the shares are listed, brokerage companies and individuals holding shares will be able to sell them much more easily. In addition, anyone will be able to buy BSE shares, with the investment in these shares amounting in fact to a bet on the development of the capital market.
At present, the main shareholders of the Stock Exchange are broker Daniel Tepes, with 4.5% of the shares, and Nicolae Musgociu, with 4.34%. Their stakes are put at around 3 million euros. The around 70 brokerage firms on the market however hold over 80% of the shares, and, according to the law, no shareholder may hold more than 5% of the voting shares.