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Sibiu Stock Exchange valued at 10.5m euros

25.01.2010, 14:01 52

The first transactions with the shares of the Sibiu Exchange(Sibex) conducted for the first time after its listing at the endof last week valued the market operator at around 43 million RON(10.5 million euros), with this being the first official evaluationof a local stock exchange operator. After yesterday's tradingsession, the value had gone up by 10% to 11.5 million euros. TheSibiu exchange, launched by Teodor Ancuta 15 years ago is currentlythe main derivatives market in Romania. On Friday the SibiuExchange also launched its stock market, where it intends tocompete with the Bucharest Stock Exchange. The capitalisation ofthe Sibiu Stock Exchange at the time of its listing was 32 timeshigher than its net profit in the first nine months of last year,which stood at 1.33 million RON (310,000 euros). In 2008 Sibexposted a profit worth around 1 million RON. This is the first timethat the shares of a South-Eastern European exchange are listed. Inthe first session 69,660 Sibex shares (SBX) were traded on themarket, worth a total of around 143,000 RON (34,000 euros), at anaverage price of around 2 RON/share. Yesterday, the Sibex sharestraded for 2.2 RON. The listing of Sibex has prompted the BucharestStock Exchange to speed up the process of its own floatation, whichis just formalities away from being done.

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