BSE consolidation begins: 6.3% of shares change hands for 4.6m euros

Yesterday's special transactions, the biggest since the listing of the Bucharest Stock Exchange (BSE) have seen BSE shares climb to a new all-time high of 41 RON, valuing the company at 72 million euros.

Interest in the shares of the Bucharest Stock Exchange is on the rise, with BSE share transfers hitting a high yesterday, when 6.3% of the market operator's capital changed owners on the 'deal' market, in the wake of three transactions.
The value of the transactions is nearly 20 million RON (4.6 million euros), valuing the company at 72 million euros, i.e. 36 times the 2 million-euro net profit reported by the BSE last year.
Since its listing, on June 8th, the price of BSE shares rose over 65%, and the company's capitalisation increased by 28 million euros. This amid a major slump in the value of Stock Exchange transactions in July and August, to an average 3 million euros a day, while September failed to bring about a significant change to the market liquidity, with the exception of a few 'deal' transactions negotiated outside the main market, as were yesterday's deals with BSE shares.