ASF approved the change of registered office of the Bucharest Stock Exchange

The Financial Supervisory Authority (ASF) has approved the change of headquarters of the Bucharest Stock Exchange (BVB) to the America House building in Piaţa Victoriei, according to a report yesterday by our capital market operator, published on its own website.

Currently, the stock exchange is based in the IBC Modern building, on Bulevardul Carol, owned by the Adamescu family. In March of last year, BVB signed the lease contract for a period of ten years for the space in the America House building, for the relocation of the headquarters together with the related development works.

The move had been approved by the shareholders at the end of 2022. According to the substantiation note of the proposal, the management of our capital market operator considered that: "It is appropriate that the activity of the BVB and the BVB subsidiaries take place in a class A office space, of a higher quality and a better location". The contract was for a period of 120 months (ten years) with an estimated value, calculated on the basis of the rent costs, the estimated costs of the utility and maintenance tax and the estimated costs of the site development works of a maximum of 5.5 million euros.

Unirea Shopping Center, a company controlled by the Adamescu family, requested, in court, the annulment of the BVB shareholders' decision from December 2022. According to the latest information available on the court portal, at the end of last year, the Bucharest Court rejected Unirea Shopping Center's request, a decision that could be challenged within 30 days.

For the past year, the Bucharest Stock Exchange Group reported a preliminary net profit of 25.6 million lei, 146% above that of 2022, especially against the background of the listing of Hidroelectrica (H2O) and the significant increase in liquidity in the second semester.

At the individual level, the net profit amounted to 22 million lei, double that of the previous year. The depository obtained an operating profit of 8.37 million lei, higher by 4.38 million lei compared to the previous period. On the other hand, CCP.RO Bucharest, the entity designed to function as a central counterparty, had a loss of 3.75 million lei, an increase of 11% compared to the previous period, influenced by the evolution of the operational loss, which was partially compensated by increasing the financial result.

According to BVB management, the central counterparty is in the authorization process.

BVB's shareholders include SIFs, Pillar II pension funds, investment funds, brokerage companies and individuals.