Telecommunications services company DIGI Communications recently became the latest business to be traded on the Bucharest Stock Exchange (BVB) after an IPO that totaled more than $229 million.

"The Romanian capital market is setting new records and is stepping fast towards a new status, thus becoming increasingly attractive both for the companies planning to get listed and for the investors who want to diversify their portfolio or take the first step towards the capital market,” BVB President Lucian Anghel said in a press release. “We strongly believe the listing of DIGI will urge other entrepreneurial companies to follow in its footsteps and get listed on the stock exchange in order to access the capital offered by the investors, a capital so much needed to develop in an extremely competitive economic environment at local and international levels."

DIGI Communications, traded under DIGI, offered 23.9 million shares, which represents 25.6 percent of the company’s total shares, at $9.72 per share. The successful IPO is a sign of the BVB’s growing stature, both locally and for international traders.

“The fact [that] we witness companies from more diverse and dynamic economic fields getting listed on the stock exchange shows the degree of diversification and modernization to which the Romanian capital market has come,” BVB CEO Ludwik Sobolewski said. “With returns in excess of 16 percent in just four months, Romania is the market showing one of the largest increases in Europe this year.”