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FinMin Citu: We will annul barriers put in Parliament stopping capitalization of Romanian markets on stock exchange

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Florin Cîțu

The barriers put in Parliament that stop the capitalization of Romanian companies on the capital market will be annulled immediately after the Parliamentary majority changes, said, on Friday, the Public Finance Minister, Florin Citu, according to AGERPRES.

"What a year you had! A year in which you went to the status of emerging market. So I would say a fantastic year. At the same time two Fidelis issuing, in the same year, of the Finance Ministry, even in a difficult time. It's a period in which we could have done more if we weren't stopped by the Romanian Parliament. So today I promise you that immediately after the parliamentary majority changes we will annul those barriers put in Parliament that stop the capitalization of the Romanian companies on the stock exchange. Because that's what it's about when we speak of state companies, it's not about selling, of turning over to foreigners and so forth. It's about capitalization. It's about injecting capital in companies to make them more profitable, to keep jobs and to create profit. That's what it's about. And that's what the capital market does and it does best because it does it objectively," said Florin Citu, at the event titled "25 years of history at the Bucharest Stock Exchange."

He mentioned that, together with the Financial Supervisory Authority (ASF), the institution is working on a plan to develop the capital market with technical assistance from the Organization for Economic Cooperation and Development.

The Bucharest Stock Exchange is celebrating 25 years since its reopening. The institution of the stock market was re-established in 1995 and on November 20 the first transactions were conducted. In the first session 45 transactions were conducted, with a total volume of 905 shares that belonged to six listed companies. Presently, the BVB has 352 companies listed on the main segment and the Multilateral Transaction System (SMT) and trades daily, on average, over 42 million shares.

The capitalization of Romanian companies listed on the Main Market of the BVB reached, on November 10, 2020, approximately 100 billion RON, or 20 billion EUR, and the capitalization of companies listed on the SMT approximately 10 billion RON (2 billion EUR).

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