After accepting proposals for changes in the regulations BVB by the Romanian Financial Supervision Commission (ASF), On 5 January Bucharest Stock Exchange (BVB) will replace the categories I, II and III of the regulated with Premium and Standard categories.
According to a press release from BVB, this new regulated market segmentation is a part of changes adopted by the BVB, which aims to increase the visibility of the issuers, liquidity and market efficiency.
For to be included in Premium category, companies have to respect one of two conditions: hold shares included in the 25 most liquid securities (according to the current ratio), or the average free-float market capitalization (percentage of shares introduced to public trading) in the last three months more than 40 million.
BVB will also classify into the category Premium issuers with liquidity factor of 0.0002, if they will conclude an agreement with the market maker, who will maintain the liquidity of the shares. According to BVB, the fulfillment of these criteria does not guarantee automatic membership in the Premium category.
“The new segmentation of the market, along with other changes implemented in 2014, will contribute to a better classification of shares listed on the main market of BVB. This is a good step for companies and investors. Moreover, it provides a better image of the market for all interested and at the same time contains a number of tools that affecting relations with investors, “said Ludwik Sobolewski, CEO of BVBTags: asf, BVB, ludwik sobolewski