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Over one third of Rasdaq issuers to switch to special Rasdaq Star category

More than 300 out of the 900 companies currently listed on the Rasdaq over-the-counter market will be transferred to the special regulated market category RASDAQ Star, whereas the other 600 will switch to the alternative trading system - ATS, Bucharest Stock Exchange vice-president Dan Paul told Rompres on Friday. He added that 300-400 Rasdaq companies chose to be transparent and present their financial reports.

'I think there is host of Rasdaq companies still undiscovered by investors, under-assessed and which have robust growth potential,' said Dan Paul on the occasion of the listing on BVB's second tier of issuer Transilvania Constructii, which moved here from Rasdaq. BVB is currently managing the regular market and the Rasdaq over-the-counter market, taken over after the merger with the Rasdaq Electronic Exchange. Officially Rasdaq is neither a regulated, nor an alternative trading system, yet the BVB vice-president argues that according to the latest authorization, Rasdaq is a regular system and BVB is not responsible for the supervision and regulatory authority - CNVM - stalling the documentation for two years now. Issuers currently listed on Rasdaq or on the unquoted market, either because they do not meet the eligibility requirements for getting on the regulated market or because they do not seek this move, will be traded on the ATS. The alternative system is intended for companies that do not meet requirements for listing on the regular market; the alternative trading system has not yet been implemented with BVB, although it is settled under law and required by EU practice. At the end of January 2006 the Stock Exchange was authorized as market operator managing the regular market and the ATS. On the latter, companies will be listed that are not admitted to trading on the regulated market, but fulfill particular liquidity requirements. The BVB regulated market includes the first-rank issuers divided in two categories: tier I - with the most liquid blue-chip issuers having a share capital of at least eight million euro; tier II, which includes companies with a share capital of at least two million euro. Sursa: http://www.actmedia.ro

Tags: rasdaq market bvb system regulated companies issuers euro blue

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