Hidroelectrica’s listing would be a big plus in the process of promotion to the emerging market status by MSCI, the Romanian market still having quantitative problems, Adrian Tanase, general manager of the Bucharest Stock Exchange (BVB), explained on Monday at the 5th edition of the Capital Market Forum, organized by Financial Intelligence, according to Agerpres.
„There are three companies or even four that are close to meeting the quantitative criteria, but at MSCI we need more consistency in meeting these criteria…. We might expect that in a very short period of time we will be included on a Watchlist because it goes the same way as at FTSE Russell, to be included in a Watchlist for promotion and after that to be promoted to emerging market status by MSCI (if Hidroelectrica is listed, ed. n.). So the listing of Hidro would be a big, big plus in this whole process,” Adrian Tanase said.
He said the Stock Exchange wants to strengthen this emerging market status, to be increasingly companies included in the FTSE Russell indices and to carry out an upgrade by the second emerging market index provider, MSCI.
Adrian Tănase added that for promotion it is necessary to meet the quantitative criteria and currently Romania does not have large enough companies and liquid enough for promotion.
He showed optimistic about the evolution of the Stock Exchange and said that when conditions normalize in terms of specific risks, the listing market could reactivate. Even under these conditions, this year there were 10 listings on the AeRO market, but also 20 bond issues.
Fondul Proprietatea and Hidroelectrica have selected the consortium of investment banks for the Initial Public Offering (IPO), which is composed of international, regional and local investment banks, announced at the end of last week Franklin Templeton International Services, sole administrator of Fondul Proprietatea.