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Monday, December 20, 2004

BVB - RASDAQ merger postponed for mid 2005

The merger between the Bucharest Stock Exchange and the electronic stock exchange RASDAQ was extended to the first quarter to mid next year.

BVB-RASDAQ merger is likely to be concluded at the end of the first half of next year, as several legal requirements need to be fulfilled regarding BVB turning into a shared capital company and the unification of the two markets.

According to the officials from the two institutions, the first step in the merger process - transforming BVB from an institution of public interest to shared capital company - will be concluded no sooner than next February.

The unification of the two institutions will require having both BVB and RASDAQ titles listed on the same technical platform.

Whereas all the companies traded on BVB meet the conditions for a joint trading, only a part of the firms listed on the RASDAQ meet the new conditions. Therefore, most of the RASDAQ companies will be traded on an alternative system, which would be similar to the BVB's section for unlisted companies.

Posted by Iulia Rasoiu : 12/20/2004 10:00:00 am