Romania's Conpet to move to Bucharest Stock Exchange from OTC mkt

The decision was approved at a general extraordinary shareholders' meeting held on September 27, Conpet said in a statement filed to the Bucharest bourse on Friday.

"We were expecting a positive outcome as the proposal came from the Ministry of Economy, the majority shareholder," Raiffeisen Capital & Investment Research said in a daily note on Monday.

"This transfer should have a positive impact on COTE's [Conpet] shares given that the company will be investable for a larger pool of investors (i.e. pension funds). Additionally, it should also increase its transparency given that the reporting requirements on BSE will be more thorough," it added.

Conpet's share capital consists of 8,657,528 shares with a nominal value of 3.3 lei ($0.94/0.73 euro) each, according to bourse data.

(1 euro = 4.5375 Romanian lei)