At present, BVB is valued at EUR73 million, 24 times the turnover generated in 2010, of EUR3.1 million, a valuation that is closer to that of online businesses listed lately than to that of other bourse operators. The LinkedIn network, recently floated in New York, is now valued at $7.35 billion, 25 times its turnover.
BVB listed on its own platform in June 8, 2010 and shortly became one of the blue chips, drawing the attention of foreign investment funds in particular. Around 13% of BVB capital is currently controlled by foreign investors.
The first year of trading shows how high investors’ expectations are regarding this issuer and, indirectly, the entire Romanian capital market. Over the past year, BVB shares have risen by 63% from RON24.5 to RON40 during yesterday’s session, way above the 20% growth of BET index and the 26% increase of BET-FI. BVB’s market value has thus reached RON314 million (EUR73 million).
“The shares rose because BVB completed a series of projects, such as the development of the structured products market, as well as because of the Fondul Proprietatea listing,” stated Valentin Ionescu, general manager of BVB. (EUR1=RON4.1719)