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BRK Financial Group becomes the first Issuer s Market Maker for bonds. As of Tuesday April 6th it will be Issuer Market Maker for IMP26E bonds

4/2/2021

  • Adrian Tanase, Bucharest Stock Exchange CEO:
    • "The Market Maker is one of the most important market participants, because it helps to increase liquidity, and as more liquid a financial instrument is, the more attractive it is to investors. The liquidity of a financial instrument is one of the most important factors in valuing a company in terms of share price. BRK Financial Group's determination to increase market liquidity is seen in the growing number of financial instruments for which it is the Issuer's Market Maker, but also in the volume of structured products it lists on BVB. This determination was recognized, moreover, in the last two years by BVB, during the award ceremony of the Performers of the stock market year.”
  • Monica Ivan, BRK Financial Group CEO:
    • "We have extended the addressability of the Issuer's Market Making service by adding bonds in the typology of financial instruments for which we ensure liquidity support. We will display firm buy and sell quotes for the IMP26E bond series, in a volume of at least 60 bonds in both directions (equivalent to EUR 30,000 BID and EUR 30,000 ASK), at a maximum spread of 2%, but we aim to quote at a spread of 1%. We congratulate Impact Developer & Contractor for understanding the importance of firm liquidity for the issued bonds and at the same time we thank Bucharest Stock Exchange for including the bonds in the instruments eligible for the Issuer's Market Maker program.”
  • Sorin Apostol, Impact Developer & Contractor CEO:
    • "In December 2020, we concluded with BRK a partnership on supporting the liquidity of Impact shares, within the Issuer's Market Maker program, and based on the evolution of the traded volumes we were convinced to extend this partnership also regarding the bonds we issued. We appreciate that a solid liquidity will increase the appetite of investors for the bonds issued by our company.”

 

The IMP26E bond issue comprises 13,163 euro-denominated bonds, with a 6-yrs maturity and a nominal value of EUR 500/ bond. The bonds were issued at the end of a private placement in December 2020 and have a fixed interest rate of 6.40% p.a.

BRK Financial Group is one of the most active brokers at BVB and, at the same time, the Issuer's Market Maker for the shares of seven companies listed on BVB, including those of Impact Developer & Contractor.

The Issuer's Market Maker activity will be performed by BRK Financial Group based on a contract signed with Impact Developer & Contractor.

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

The specific parameters that apply to the IMM activity performed by BRK Financial Group for the IMP26E bonds issued by Impact Developer & Contractor are available HERE.

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

 

About Impact Developer & Contractor
With 30 years of experience on the market, Impact Developer & Contractor is the first real estate developer after the communism regime, company established with 100% Romanian capital. In 1996, the company was listed at Bucharest Stock Exchange, Impact being the first representative of the real estate and construction segment listed on the BVB. In 2006, the company’s shares were upgraded to BVB’s first Tier and in 2015 to Premium Tier.
The mission of Impact Developer & Contractor is to develop sustainable projects, at modern standards, both in Bucharest and in the big cities of the country. Among the developer's reference projects are Greenfield Baneasa and Luxuria Residence, a luxury residential complex with BREEAM Excellent Certification. As part of the national expansion strategy, Impact started the construction of a premium residential project in Constanta, Boreal Plus, a mixed project consisting of 18 villas and 673 apartments, built on an area of 43,000 square meters, which will be completed in 2024. Also, Impact continues the expansion at regional level and starts Greenfield Copou, in Iasi. The works will start in 2021, with a completion deadline in 2024, being built in three phases. The project includes a total of 1,100 apartments, built on an area of 48,685 square meters.

 

About SSIF 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.