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Romanian capital market grows 3.8 pct in Q1 amid shrinking liquidity
The growth of the Romanian capital market in Q1 2023 was 3.8 percent - as measured by the Bucharest Stock Exchange total return index BET-TR, which also includes dividends, but this development happened against the backdrop of decreasing liquidity, the Bucharest Stock Exchange (BVB) said in a release.
According to the cited source, a slowdown was visible from 5.5 percent at the end of the first two months of this year.
Seven listings were organised in the first three months of this year, worth a total of 428 million euros - 6 bond issues totaling 427 million euros and a share issue of almost one million euros.
The share price of issuer BVB, which is listed on its own market, hit in March a historical high of 47.7 RON. The BVB share had the biggest increase of all issuers in the BET index: plus 13.5 percent in just one month.
The first sectoral exchange-traded fund (ETF) was also launched in Q1. ETF Energie Patria Tradeville aims to replicate the performance of BVB's sectoral energy and related utilities index BET-NG, an important area for the national economy and for investors.
A transfer from AeRO to the Main Market also took place in the reporting period: Safetech Innovation, a Romanian cyber security company that was present on the capital market since January 2021, debuted on February 6 on the Stock Exchange Regulated Market under the ticker SAFE, following the transfer from the AeRO market.
BVB CEO Adrian Tanase announced in this context that 156 rounds of financing via shares and bonds were held in the last five years on the BVB, worth a combined 6.5 billion euros.