Dorinvest has two ongoing share sale offers, with the lowest asking price at RON 37 (some €8,86)/share. Farmache does not have shares of listed companies, and said that he will not buy such equities as long as he is Chairman of the Stock Exchange, due to the conflict of interest this would generate. However, he said that he will continue to acquire BVB shares. The Bucharest Stock Exchange is a closed company, but its management is preparing for listing.
“This is my first acquisition and I bought the shares because I believe in the evolution and development of the market. Once the Stock Exchange is listed, I will hold on to the share package I will own at that time and will not trade this,” Farmache told Business Standard. The Stock Exchange’s Chairman said that his investment in BVB shares is a medium-long term one. “It is difficult to set a real value of BVB shares. In the end, the value of the share is determined by the transactions which occur at a given time. But I believe that these shares have a considerable potential for medium to long-term growth,” Farmache added. BVB’s shareholders approved the first stage of the listing process at the beginning of April, which consists in the liberalization of the share flow by converting preferential shares into ordinary shares, and simplifying the sales procedure.
“The project of listing the Stock Exchange will depend on market conditions. All companies that want to be listed on the stock exchange want to do so at a favorable time. In any case, we are preparing the Stock Exchange for listing,” Farmache said.
