The Bucharest Stock Exchange is in the process of bringing toBucharest the shares of German carmaker Daimler AG, themanufacturer of Mercedes cars, more specifically to theinternational section of the alternative trading system CAN-ATS, amarket specially created for the listing of big internationalcompanies.
According to sources from the capital market, the Erste groupwill bring Daimler shares to the Romanian stock exchange throughthe brokerage division of the BCR. This is the first floatation ofa major international company on the Bucharest market and comes ata time when the listing of state companies is dragging on andbrokers are unable to persuade Romanian private companies to jointhe market.
Daimler is one of the biggest German companies, with an over 50billion-euro capitalisation, which compares with a 22.6billion-euro capitalisation of all companies listed on the Romanianstock exchange. The issuer's approval is not necessary for CAN-ATSlisting.
Daimler shares will be quoted in RON, which will enable pensionfunds and smaller investors to buy international shares in RON,without being subject to currency exposure and without resorting tothe services of foreign brokerage firms. BCR will be a supplier ofcash for Daimler shares, and will constantly offer sell and buyquotes for investors wishing to buy or sell. Neitherrepresentatives of the BCR nor of the Stock Exchange were willingto provide comment.
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