Further to our earlier story about the Bucharest Stock Exchange (BVB)’s new market for early stage companies to finance projects, tell their growth stories and increase their visibility, the BVB now says the AeRO market will launch on February 25, 2015.
Stated Ludwik Sobolewski, BVB CEO, during the conference A capital conversation on entrepreneurship with Dan Lufkin: “During this launch we will have companies debuting. Hence, February 25 will also be a significant date for the investors: those who will invest their money into debuting companies and those who will have the possibility to buy and sell the shares starting from the first day of listing. As the launch of the AeRO will be the breakthrough with respect to the development of the capital market, our efforts to enhance the project will only intensify with time. We are launching a creative design for this new SMEs market, which is a challenge that requires business intelligence, competence and experience.”
“We are currently working on creating a new legend of the CEE region,” he continues. “We first need to build the market, and then work on our competitiveness. The Polish market is currently the star of the region but we want to make this CEE market more colourful and attractive to the investors. We have this ambition to add Romania to this picture, to make the CEE space more competitive. Our goal is to improve domestic market and then to build our presence on international scene”, also stated the BVB CEO.
- With the entry into force of the new regulation, there are new listing requirements applicable to the companies willing to be listed on AeRO. The most important change is brought by the introduction of the Authorised Adviser’s role.
- Legal entities that are going to undertake the role of the Authorised Adviser will offer crucial support to the issuers before their debut and during the listing process, but also on reporting and transparency requirements after the issuer’s debut.
- They will be also responsible for advising the companies with regard to any arising legal and administrative challenges, as well as will assist in the preparation of all the relevant information documentation requested by the market participants.
- Authorised Advisers will be crucial in linking companies issuing shares with investors.
- Apart from the obligation to have an appointed Authorised Adviser, companies which want to become listed on AeRO will need to attain an anticipated market capitalization of at least EUR 250.00, either through a private placement, an Initial Public Offer or based on the evaluation performed by the Authorised Adviser.
- Moreover, the AeRO-listed company will be required to have a free float of at least 10 percent or have 30 or more shareholders.
- Companies will have to issue an informational document, providing the line of company’s business and the latest financial statements.
- In case of raising capital through private placement, a prospectus will not be necessary, and nor will FSA approval for the submitted documentation.
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W październiku bieżącego roku MBF Group S.A. podpisała z BVB list intencyjny, który ma na celu kooperację i wzajemne wsparcie w zakresie pomocy udzielanej małym i średnim przedsiębiorstwom w dostępie do finansowania na rynku kapitałowym oraz rozwój alternatywnego systemu obrotu akcjami na Giełdzie Papierów Wartościowych w Bukareszcie. Parafowanie docelowych umów współpracy oraz świadczenia usług Autoryzowanego Doradcy spodziewane jest najpóźniej do połowy stycznia 2015 roku.