- BVB expands its main indices, BET and BET-TR, to 12 companies
- CONPET and MedLife are the new additions to the main indices
Bucharest Stock Exchange (BVB) announces that it will expand the composition of the main index for the first time since its launch. The BVB Index Committee decided on the 3rd of March, 2017, during its quarterly meeting, to expand the number of companies included in the BET and BET-TR indices from 10 to 12.
„It is the first time when the number of BET and BET-TR components exceed 10 companies. This change is the effect of the BVB’s endeavors with regard to the reconstruction measures of local market benchmark indices adopted at the end of last year, supported by the eligible companies through meeting of the quantitative and qualitative standards imposed by BVB,” said Ludwik Sobolewski, CEO of the Bucharest Stock Exchange.
“The seeds for the enlargement of the main indices were planted last year, when a new BET with variable composition was introduced together with a review list for companies eligible for BET and in addition the largest IPO of a privately-owned company arrived to the market,” said Lucian Anghel, Chairman of the Bucharest Stock Exchange.
The two new companies joining the main indices, BETand BET-TR, are CONPET (symbol COTE) and MedLife (symbol M). CONPET has the transport through pipelines and by rail of the domestic and import crude, rich gas, condensate and liquid ethane to the refineries as core business and Medlife is the largest private healthcare services provider in Romania.
„We are pleased to see CONPET, a company with high quality management, solid corporate governance and proven openess towards investors. This shows that companies who perform well can be in the spotlight of the capital market,” Anghel stated.
„The presence of MedLife in the main indices was possible because it impressively passed the test facing the investors at recent IPO. Inclusion in BET marks the entrance of a new sector in the main index,” Sobolewski added.
The weights of the indices’ components will be determined based on the number of shares and closing prices registered at the end of the trading session of March 10, 2017. The new structures of BVB indices will be announced at the end of March 10, 2017, and will become effective as of March 20, 2017.
The members of the Index Committe are: Lucian-Claudiu Anghel - Chairman, Ludwik Sobolewski - Member, Bogdan Campianu – Member, Mihai Lazar - Member, Dorin Alexandru Badea - Member.