BUCHAREST (Romania), September 10 (SeeNews) - The Bucharest Stock Exchange (BVB) said on Friday real estate developer One United Properties [BSE:ONE] and freight forwarder Transport Trade Services [BSE:TTS] will join its main index BET, adding up to a total of 19 companies tracked by the index.
The two companies will also join BET-TR, the total return version of BET, the BVB said in a press release.
The changes will take effect on September 20.
"The inclusion of ONE and TTS shares gives a better representation of the stock market sectors in the BET and BET-TR indices. The sectorial diversification is an essential element in the investment strategy both for institutional and retail investors, as it offers better risk-adjusted performance. The extension of the index comes after a good period in terms of listings and financing through the capital market, thus attracting more and more investors to the stock market’," BVB CEO Adrian Tanase said.
One United Properties started trading on the main market of the BVB on July 12. Before the listing, the company carried out a primary initial public offering which attracted 260 million lei ($62 million/ 53 million euro) from investors. The company currently has a market capitalization of 2.7 billion lei.
The shares of Transport Trade Services are traded on the stock exchange since June 14 following an IPO worth 288 million lei. TTS has a market capitalization of 609 million lei.
BET (Bucharest Exchange Trading index) is the first index developed by the BVB and represents the benchmark index for the local capital market. Established on September 19, 1997, the BET has comprised a maximum of 10 companies for nearly two decades.
One United shares traded 0.72% lower at 1.9320 lei as at 1522 CET on Friday. Transport Trade Services shares changed hands 1.48% higher at 20.6 lei as at 1513 CET.
(1 euro=4.9432 lei)