This is the first time the BVB has expanded these indices since its launch.
“It is the first time when the number of BET and BET-TR components exceed 10 companies,” BVB CEO Ludwik Sobolewski said in an announcement. “This change is the effect of the BVB’s endeavors with regard to the reconstruction measures of local market benchmark indices adopted at the end of last year, supported by the eligible companies through meeting of the quantitative and qualitative standards imposed by BVB.”
The two new companies added to the indices are CONPET and MedLife. CONPET, which will be traded under the symbol COTE, transports crude, rich gas and condensate and liquid ethane to refineries via both rail and pipelines.
“We are pleased to see CONPET, a company with high quality management, solid corporate governance and proven openess towards investors, (join the indices),” BVB Chairman Lucian Anghel said. “This shows that companies who perform well can be in the spotlight of the capital market.”
MedLife is the largest private health care services provider in Romania and recently oversaw the county’s largest IPO of a privately-owned company. It will be traded under the code M.
“The presence of MedLife in the main indices was possible because it impressively passed the test facing the investors at recent IPO,” Sobolewski said. “Inclusion in BET marks the entrance of a new sector in the main index.”