Firms found eligible for transfer to the main market will have to consult shareholders on the switch.
Should the CNVM decision pass, the issuers will be moved to the ATS within two weeks.
Rasdaq transactions will be halted for at most three days before the move to the ATS.
The eligibility criteria for transfer to the main market will include market value, seniority of at least three years and a minimum 25% share dispersion.
Right now, some 80 issuers among the 1,155 listed on Rasdaq meet the criteria, and another 200 could benefit from regulator derogation on share dispersion, so that they can move from the ATS to the main market.
Companies eligible for transfer to the main market need to summon the shareholders for a meeting within nine months from the decision’s coming into force, enabling shareholders to decide on the switch.
If the move is approved, the firms have six months to send a simplified listing prospect to the CNVM.
The decision’s provisions also apply to the 25 companies included in the “Unlisted” category of the Bucharest Stock Exchange.
Comments on the decision can be issued until April 3.
Rasdaq-listed companies have a total market value of 9.9 billion lei (EUR2.26 billion).