Over ten million Romanians - i.e. half of the country's population- are shareholders in at least one of the companies listed on the Bucharest Stock Exchange, according to statistics of the Central Depository. The institution keeps track of shareholders of companies listed on the capital market, and has recently started to handle clearing operations for the transactions on the Stock Exchange. The large amount of shareholders places Romania at the top position in Europe in terms of citizens holding shares in companies listed on the Stock Exchange, say representatives of the Central Depository. The high number does not have to do with Romanians being highly interested in investing on the Stock Exchange, but with decisions made by the state, to grant small stakes in the five SIFs (Financial Investment Companies) to Romanian citizens. Those who took part in the mass privatisation programme received SIF shares instead of dividends that the Private Property Fund should have distributed. They account for around 7-8 million of the 10 million shareholders, though the majority of shareholders are unaware that they own such shares, which are registered in their accounts with the Central Depository.
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