Many companies affected by the crisis currently need funding. And with banks becoming increasingly restrictive in their lending, the Bucharest Stock Exchange can provide an alternative financing solution.
The BURSA media group, in association with the Bucharest Stock Exchange, yesterday held the conference called "The stock market -a financing alternative and investment opportunity".
All of these themes were discussed by several speakers, including Gabriela Anghelache, the chairwoman of the Romanian National Securities Commission; Adriana Tănăsoiu, general manager of the Central Depository; Stere Farmache, the chairman of the Bucharest Stock Exchange; Anca Dumitru, general manager of the Bucharest Stock Exchange.
"Even though two years ago, almost 20 companies were getting ready to be listed on the Stock Exchange, none of them did, because of the financial crisis", Stere Farmache, the chairman of the Bucharest Stock Exchange said yesterday during the conference.
"In the beginning of 2008, almost twenty companies had their prospectuses sitting on our desks. The beginning of the financial crisis caused the companies to renounce or postpone those plans. After a while, all of the 20 companies cancelled their plans to get listed", Stere Farmache said.
Last week, the Bucharest Stock Exchange got listed on its own platform, in an attempt to send a positive signals to domestic companies and to encourage them to enter the stock market.
However, the chairman of the BSE yesterday conceded that the Bucharest Stock Exchange still has a long way to go before it becomes a magnet for the companies interested in securing funding. Stere Farmache feels that companies have avoided the stock market as a source of funding because many companies were able to raise relatively cheap funding from banks, amid the economic growth which lasted until 20
