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Thursday, November 18, 2004

Finansbank brach to enter stock exchange

The Romanian branch of the Turkish owned Finansbank is to be listed on the Bucharest Stock Exchange (BSE) as of next year, as the bank is to put out an initial public offering (IPO) in the second half of 2005.

Also planned for next year is the launch of the bank's second bond issue on the capital market, following the first issue made last month. "With our first bond issue we wanted to show our commitment to Romanian financial markets. In the medium term, we intend to open the bank to the public," said the president of the bank, Tamer Ozatakul, during the official opening of the trading session of the Bucharest Stock Exchange on the occasion of the listing of the bank's first bond issue.

As a result, Finansbank Romania will become the third foreign-owned bank to be listed on the capital market after BRD-SocGen and Eurom Bank. Two Romanian banks are also listed on the stock exchange: Banca Transilvania and Banca Comerciala Carpatica.

Posted by Mihai : 11/18/2004 01:31:00 pm