The contract was concluded for a two-year period, with the possibility of extension.
Under the contract, BRK Financial Group will provide Market Maker services for TTS.
Transport Trade Services went public on the Bucharest Stock Exchange’s main market on June 14 after raising RON288 million in an initial public offering for 50% of its share capital.
Following the operation, the company’s biggest shareholder remains Mircea Mihailescu, who currently holds 25.2% from a pre-IPO holding of nearly 50%, NN Group NV owns 10.1%, Ion Stanciu holds 7%, Aegon Pensii owns 6.4%, Paval Holding holds 5.3% and Utilico Emerging Markets owns 5%, with the remaining shares being distributed among other shareholders.
Market maker is a company operating on the capital market, usually a broker, which undertakes the market/trading risk for a certain tier of securities (shares, bonds etc) in order to facilitate the trading of a respective security. Also, the market maker sells and buys securities from its clients, while ensuring the necessary liquidity, maintaining quotes (Bid & Ask) and facilitating deals.