BVB’s Chief Executive Officer Adrian Tanase and Board of Governors will negotiate the clauses of the contract based on the commercial terms presented in the information material made available to shareholders by publication on the BVB website.
The Bucharest Stock Exchange will reportedly lease almost 1,256 sqm and 13 parking spaces, out of a total 2,235 sqm and 29 parking spaces for the entire BVB Group. The final area allocated to BVB is to be set based on splitting the area within the BVB Group.
The contract has an estimated value of minimum EUR5.5 million, calculated on the basis of rental costs, estimated costs of the utility and maintenance fee and estimated costs of HQ fit-out works. The rental price is EUR20/sqm/month for the office space (uninvoiced VAT), respectively EUR160 per parking space per month (plus VAT). The estimated cost of fit-out works is EUR650 per sqm.
The contract starts on Sept 1, 2023 and the Bucharest Stock Exchange will enter the space for fit-out works five months earlier, on April 1, 2023. The lease period covers 120 months, with no clause of termination or cessation of the contract in advance and a number of months free of charge.
The Bucharest Stock Exchange has a market capitalization of RON278.5 million after its shares have gained 35.7% since the beginning of 2022, amid deals worth RON31.5 million, as per stock market data.
America House, which currently hosts the offices of companies such as Mastercard, McDonald’s, SensiBlu, BCR and Starbucks that employ some 1,500 people, is held by U.S. bank Morgan Stanley.