New spot market consultant for Sibiu bourse

The Sibiu bourse official confirmed that SIBEX is looking to find a spot market consultant in Bucharest.

“In this sense we are negotiating, but have not yet settled on the terms of the contract with Mr. Sebastian Vladescu, to develop the spot market. He has accepted our offer and will probably begin as consultant of the Sibiu bourse as early as this month.”

SIBEX shareholders approved a tripling of share capital by the issuing of new shares, at a sales price of RON 200, in keeping with capital market laws, which impose a capital of a minimum €5 million.
 
The Warsaw Stock Exchange became a shareholder of the Sibiu bourse in October 2007 through the acquisition of a 1.8 percent share package, worth RON 937,600 (€281,000).

The SIBEX share capital could triple to RON 21.98 mln, from RON 7.33 mln, if shareholders subscribe to the full 73,268 new shares issued. Based on Friday’s rate posted by the National Bank of Romania (BNR), the share capital of the Sibiu bourse would thus reach €5.88 mln.
 
In the first stage of the rise in capital, newly-issued shares will be offered for shareholder subscription on 29 February, proportional to the number of shares owned.

If any shares remain unsubscribed after the first stage, shareholders who have already exercised their right of preference as well as other persons will be allowed to subscribe to the remaining shares at a price of RON 1,700/per share, of which RON 1,500 represents the issue fee.

In case of oversubscription, shares will be allocated using the pro-rate method. 

One of the objectives of the Sibiu bourse in the first half of this year is the quotation of a representative index for a European bourse.

Furthermore, in Friday’s session shareholders approved the extension of the SIBEX trading hours to 5:15 p.m., as of 1 April.