The plans of a majority shareholder of a company listed on the Rasdaq to see their company listed on the Frankfurt stock Exchange fell through, after the German authorities bluntly informed him that his application was rejected due to a technical but nevertheless valid reason: the Central Depository of Germany has no connection to the Romanian Central Depository.
The ties with the Romanian Depository were so far just a theoretical issue; right now the absence of this connection has caused concrete problems.
The maker of the caviar is not the only one that will not be able to cross the border; a Romanian bank may face a similar problem.
Even other Romanian companies that announced they planned to be floated on foreign stock exchanges, such as the one in Vienna or London, as no foreign Central Depository was interested in opening an account with the Romanian Central Depository...
* "International Caviar Corporation" of Călan, Romania failed to enter the German stock market because the German Depository has no connection to the Romanian Depository
* Other major Romanian companies could see something similar happen to them: no European Depository has a connection open to ours
A company from Călan fails to get listed on the Frankfurt Stock Exchange, due to technical reasons beyond the control of its shareholders.
The case is typical for other Romanian companies that want to get floated on the foreign stock markets.
At first it seemed that the IPO of the fish farming company "International Caviar Corporation" of Călan (listed on the Rasdaq tier of the Bucharest Stock Exchange) on the Frankfurt stock Exchange seemed to be nearing a successful outcome, after the German bank Mercurius had announced, at the end of 2009, that it was interested in helping the company perform an IPO.
The surprise came up a few months
