Daniel Ţepeş sold 2.14% of the BSE stock

Around 6.3% of the share capital of the Bucharest Stock Exchange (symbol:BVB) was transferred yesterday in three special deals, of 19.82 million lei (around 4.7 million Euros). The 483,500 shares of the BSE were sold for a price of 41 lei/share, more than 2.5% higher the price for the stock on the Regular market.

The first two deals took place in the first half of yesterday"s trading session, when 4.28% of the BSe was sold, whereas the last Deal, when 155,000 shares got sold, took place a few minutes before the end of the session.

Daniel Ţepeş, a member on the Board of Directors of the BSE, reported the sale of 164,250 BSE shares at an average price of 41 lei. His brother Ion Ţepeş was reported as having only bought 4,000 BSE shares, at an average price of 40.95 lei.

Apart from Daniel Ţepeş, who owned 4.53% of the BSE, Mircea Musgociu owned a stake of a similar size, according to the data available on the website of the Stock Exchange.

"I don"t know the reason behind these special deals, but I hope that this interest in the stock of the BSE is the results of the interest of certain investors who want to get actively get involved in the company"s management", Mihai Chişu broker at "IFB Finwest" said for BURSA. Chişu considers that the BSE is put at a disadvantage by the fact that it has a scattered shareholder structure, which does not get involved enough in its management.

Since its listing in June, the price of the stock of the BSE has constantly risen, gaining almost 60% in just three months.

Some brokers have explained the rise by the interest expressed by giant investors such as Franklin Templeton, which is rumored to have recently bought 2% of the BSE. Franklin Templeton did not confirm this information.

Yesterday"s deals coincided with the changes in the management of the BSE. Valentin Ionescu, one of the oldest brokers in the market, took over the position of CEO the BSE from Anca Dumitru, who yesterday became the deputy CEO.