The move is aimed at modernizing the Moldova capital market infrastructure and attracting local and foreign investors at a time when the neighboring country already has a functional bourse, Moldova Stock Exchange.
According to documents submitted to shareholders, BVB will participate in the initial share capital of the new stock exchange with the amount representing the equivalent of EUR400,000 (out of an estimated share capital of EUR1.275 million), plus the option, not the obligation to subscribe subsequently new shares (up to the total share capital level of EUR3 million) shares whose total issue price will represent at most the equivalent of EUR200,000.
The new stock company will have to get the market operator license from Chisinau watchdogs and use the ARENA Trading platform developed by BVB, on the basis of a SaaS-type contract. The documents stipulate BVB will also provide technical services for infrastructure implementation, over a period of at least five years.
Should the project come to fruition, BVB is likely to become technical infrastructure provider and a stakeholder in a neighboring operator, which is a first for the Romania institution.
(English version by Catalina Apostoiu)