Warsaw Stock Exchange wants to acquire up to 5% of Sibiu bourse

“The Sibiu bourse has indicated its intention to acquire a further 3.19 percent of Sibiu stock exchange shares from its present shareholders, to a maximum level of 5 percent, which is presently permitted by law,” said Teodor Ancuta, President of SIBEX.

The National Commodities Commission received a draft from the Ministry of Economy and Finance for the modification of the capital market law, which would raise the maximum permissible level of shares that can be owned of a Romanian stock exchange. “We hope that by 15 March this threshold will be raised, especially since this legislation has no equivalent in European Union legislation regulating this area,” added Ancuta.

SIBEX’s management has proposed to its shareholders an increase of some €4 million in share capital, up to €6 mln. According to capital market regulations, SIBEX must have a share capital of at least €5 mln by the end of this year, in order to continue as a market operator.