“We are pleased by the increasing number of financial instruments that benefit from the Issuer’s Market Maker services, a total number of 15 shares and bonds, including SFG shares. It is a positive outcome both for BVB, it shows that the program is efficient and proves its usefulness towards market development, and for the investors or issuers, through its results in terms of improved liquidity and a better market position”, said Adrian Tanase, Bucharest Stock Exchange CEO.
“Capital market activity is of strategic importance to the Sphera Franchise Group. In the past year, we have focused even more on our investors and their needs. We want Sphera to be one of the leading issuers on the Romanian capital market and increasing the liquidity of SFG shares is our priority to meet the needs of global and local investors. We are excited to start the partnership with BRK Financial Group and launch the Market Maker services for SFG shares. In the long run, we believe that our decision will positively affect all investors, whom we thank for their trust, especially throughout last year, which was an extremely challenging period for the HoReCa industry globally”, stated Valentin Budes, CFO at Sphera Franchise Group.
Sphera Franchise Group and BRK Financial Group concluded a one-year contract for the market maker activity on the Bucharest Stock Exchange, starting August 24. The contract will be renewed automatically for successive periods of one year, unless the parties involved denounce it unilaterally.
SFG shares began trading on BVB’s Main Market on November 9, 2017, after the successful closing of a secondary initial public offering worth RON285 million (EUR62 million).
BRK becomes the Issuer’s Market Maker (IMM) for 12 issues: Sphera Franchise Group, One United Properties, TTS, Bucharest Stock Exchange, Antibiotice, Aages, Impact Developer&Contractor, MedLife, Romcarbon, TeraPlast, Purcari Wineries, as well as for IMP26E bonds.
The IMM is the participant in the Bucharest Stock Exchange’s trading system that has taken on the role of sustaining the liquidity of a financial instrument, based on a contract concluded with the issuer of the financial instruments, as well as with BVB
In 2020, Sphera had 158 restaurants, of which 138 in Romania, 18 in Italy and two in the Republic of Moldova. In 2021, the company plans to open 16 new restaurants (eight KFC units, three Pizza Hut units and three Taco Bell units in Romania and two KFC units in Italy), following the contract negotiated with franchiser Yum!. The investment budget amounts to EUR10.2 million.
Sphera has a stock market capitalization of RON704 million and its shares have been trading up 23% since the beginning of 2021, amid deals worth RON54 million.