If you can see this message, your browser does not support canvas and needs an update. Sorry. :(
Sunday, July 5, 2020 
Market Status: CLOSE
About us and Governance Investor Relations Contact
Advanced search

Press releases


Nuclearelectrica the sole producer of nuclear power in Romania signs market maker contract with BRK Financial Group to enhance liquidity

3/10/2020

  • Cosmin Ghita, CEO Nuclearelectrica: Nuclearelectrica intends to be included in the FTSE Russell index of the London Stock Exchange and for this purpose, it aims to increase its liquidity and implicitly, the value of its shares.
  • Monica Ivan, CEO BRK Financial Group: BRK Financial Group's commitment to contribute to improving liquidity continues by assuming the role of market maker for a new issuer - Nuclearelectrica.
  • Adrian Tanase, CEO BVB: Nuclearelectrica is one of the companies that could be included in the FTSE indices for emerging markets if it also fulfills the liquidity criterion, given that the size criterion is already met.

 

Societatea Nationala Nuclearelectrica (SNN), the sole producer of nuclear power and nuclear fuel using CANDU 6 type technology in Romania, will benefit as of March 11th from the issuer’s market-making services provided by SSIF BRK Financial Group (BRK), one of the most active brokerage companies trading on the Bucharest Stock Exchange (BVB).

„Nuclearelectrica’s shares were the most performant in the BET index in 2019, registering the highest increase. In compliance with BVB strategy of transition to a mature market, Nuclearelectrica intends to be included in the FTSE Russell index of the London Stock Exchange and for this purpose, it aims to increase its liquidity and implicitly, the value of its shares by access of a large a diverse number of new investors to its shares. The potential inclusion in the FTSE Russell index will have a benefic impact on the market capitalization of Nuclearelectrica’s shares and on their value. The market making services provided by SSIF BRK Financial Group represent a solution to increase the liquidity of SNN shares on the local market with a benefic impact for the shareholders of SNN and on potential investors”, stated Cosmin Ghita, Nuclearelectrica CEO.

„BRK Financial Group's commitment to contribute to improving liquidity continues by assuming the role of market maker for a new issuer - Nuclearelectrica. The value of the orders displayed (the equivalent of EUR 50,000 bid-ask) is significant compared to the current liquidity of the shares, and recent experience has confirmed that the liquidity of an issuer that has a market maker is visibly improving”, said Monica Ivan, SSIF BRK Financial Group CEO.

Nuclearelectrica was established in 1998, and as of 2013 it is listed on the Bucharest Stock Exchange and it is one of the most liquid companies, being included in the indices BET, BET-TR, BET-XT, BET-XT-TR, BET-BK, BET-NG ?i BET-Plus, as well as in the ROTX index (developed by BVB together with Vienna Stock Exchange. It tracks, in real-time, the price changes of the ‘blue chip’ shares traded on the Bucharest Stock Exchange).

The Issuer's Market Maker (IMM) is the participant in the trading system of BVB that has taken on the role of sustaining the liquidity of a financial instrument, based on a contract concluded with the issuer of the respective financial instruments, as well as with BVB.

„Nuclearelectrica is one of the companies that could be included in the FTSE indices for emerging markets if it also fulfills the liquidity criterion, given that the size criterion is already met. We are pleased to see the involvement of BRK Financial Group in this new program launched by the Bucharest Stock Exchange last year and the fact that more and more listed companies are using this new mechanism, Nuclearelectrica being the fourth company for whose shares actives an Issuers’ Market Maker, and we could say that it is an example to be followed by other companies.”, stated Adrian Tanase, BVB CEO.

The specific parameters that apply to the IMM activity provided by BRK Financial Group for Nuclearelectrica shares are available here. 

Further information regarding the general framework for the IMM Program can be found here.

 

***

About Nuclearelectrica
Societatea Nationala Nuclearelectrica S.A. (“SNN”) is the sole producer of nuclear power and nuclear fuel using CANDU 6 type technology in Romania, established in 1998. In October 2013, SNN listed 10% of its shares on BVB. The company has its headquarters in Bucharest and it owns two subsidiaries:
- Cernavoda Nuclear Power Plant that operates Units 1 and 2 and which produces electricity and thermal power. The two units have an installed capacity of 700 MWe each and use natural uranium as fuel and heavy water as moderator and cooling agent, which are both produced in Romania.
- Pitesti Nuclear Fuel Plant that is the qualified producer of CANDU 6 type nuclear fuel which covers entirely the supply of Cernavoda NPP Units 1 and 2. 
With the two nuclear units in operation, SNN covers approximately 20% of the total production, with dispatchable units, of Romania.

About BRK Financial Group
BRK Financial Group was established as a joint-stock company on October 26, 1994, being one of the largest brokerage companies in Romania. Extensively experienced in the capital market, it is also the first and, up until now, the only financial investment company listed on the Bucharest Stock Exchange, in the premium category (ticker symbol: BRK). The core activity of BRK Financial Group is structured on two business directions, namely the intermediation segment and the trading segment. In the trading segment, the company operates the transactions on its own account, market-making operations, and structured product transactions, while on the intermediation segment, the company operates the customer transactions, respectively the corporate operations. The management deems future projects to be of importance, considering the triple stance of BRK: investment firm, intermediary and issuer. The high level of competence and experience at all corporate levels of our team allows the company to look confidently ahead into the future.