The Bucharest Stock Exchange wants to make its stock more liquid

On September 10, the shareholders of the Bucharest Stock Exchange are called to decide on the reduction of the face value of the shares of the Bucharest Stock Exchange from 10 lei to 1 leu, and the increase of the number of shares from 7.67 million to 76.74 million shares.

Octavian Molnar, a member of the Council of the Bucharest Stock Exchange, said for BURSA, that the proposal to lower the face value of the shares of the BSE was made by several shareholders some time ago, in order to increase their liquidity.

"It was an older proposal which came from some of the shareholders of the Bucharest Stock Exchange, but not from the brokerage firms, and it was intended to allow the stock to become more liquid and to make it more accessible for smaller investors", said the head of IFB Finwest.

The Bucharest Stock Exchange self-listed in the beginning of April 2010. Since then, about 1.12 million shares of the BSE were exchanged, or 14.59% of its capital.

The agenda of the General Shareholder Assembly scheduled for September also includes the approval of the maximum level of the commissions and tariffs levied by the Exchange for operations specific for the regulated markets and the alternative trading systems of the BSE.

Octavian Molnar explained that the discussion does not concern raising the commissions and tariffs, but rather setting their upper limit.

"We want to set the maximum level of these commission, to give us more freedom in our operations", said Molnar.

Also in the beginning of September, the shareholders of the Bucharest Stock Exchange are expected to elect the new Board of Directors of the Central Depository, as the terms of the current administrators will expire in October.

In the beginning of May, Doru Boloş, the general manager of SSIF Interdealer Capital Invest, and Cristinel-Sandu Popescu, the chairman of SSIF Voltinvest, were appointed as interim administrators of the Central Depository.

Their appointment was decided by the Board of Directors of the Central Depository following the resignation of Ioan Catona and Lucian Isac from their positions as administrators of the institution.