The capitalisation of the Electronic Market RASDAQ has dropped from two billion euros to 1.5bn euros since the beginning of the year, but stock prices are not to blame.
RASDAQ is seeing the migration of the big companies listed on this market towards the Bucharest Stock Exchange (BSE). The two markets are supposed to merge in the next few months, but the companies trading on RASDAQ look like they can no longer wait for the unification.
Rompetrol Rafinare (Rompetrol Refining) used to be the biggest company listed on RASDAQ in terms of capitalisation, but it was transferred to the Bucharest Stock Exchange. Banca Comerciala Carpatica (Commercial Bank Carpatica) then became RASDAQ's biggest company, but it has also left this market for the BSE.
Consequently, Eurom Bank is now the biggest company trading on RASDAQ, having been floated almost one month ago. However, the bank's officials said that being listed on RASDAQ was just one of the first steps they had anticipated making prior to joining the Bucharest Stock Exchange.
The top ten companies in terms of capitalisation on the RASDAQ Electronic Market currently include another two companies that might leave the market in the next few months - Alprom Slatina, with 30m euros in capitalisation, set to merge with Alro Slatina (a company trading on the Stock Exchange) and Comcereal Alexandria (with capitalisation worth 16 million euros) which has to be delisted by its main shareholder US company Cargill by next January.
vlad.nicolaescu@zf.ro
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