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CNVM reports 2007 revenues 26pc over initial projections

The National Securities Commission (CNVM) has reported 2007 revenues of RON 58.59 million (1 euro = RON 3.67), which are approximately 26 percent higher that the initial projections of RON 47.85 million as a result of a better realisation of all revenue categories, reads the 2007 CNVM activity report.

The report indicates that intensified trade on the Bucharest Stock Exchange (BVB) as a result of high dynamics and excellent developments in the BVB indices and a rising overall capital market liquidity coupled in 2007 to effect positive developments in the CNVM revenues. Thus, revenues derived from trade on the regulated markets and alternative markets were realised 130.59 percent, with influence on the 2007 average realisation rates. Revenues derived from the net assets of collective investment funds outperformed by 32.33 percent the initial projections. Revenues from public offerings of shares came mainly from municipals and corporate bond issues, with a realisation rate of 97.88 percent at the end of 2007. As far as revenues from public offerings and takeovers are concerned, their realisation rate was 268.57 percent. A special impact on the collected revenues of CNVM derived from takeovers in 2007, the report says, was generated by the commission fee charged by CNVM on the public takeover of ASIROM that stood at RON 1.60 million, which was 58 percent of the total RON 2.75 million realised in the transaction. Revenues derived from commission fees and other charges on activities which carrying out entails the issuing by CNVM of individual documents were 100.87 percent realised. Sursa: http://www.rompress.ro

Tags: revenues percent projections initial bvb euro