Romanian electricity distributor and supplier Electrica signed for market-making services with BRK Financial Group and Wood & Company Financial Services (Wood&Co), with the main objective of increasing the liquidity of its own shares on the Bucharest Stock Exchange (BVB) for inclusion in the international FTSE Russell indices.
The two liquidity providers: BRK Financial Group and Wood&Co will start quoting as market makers for the issuer starting 3 January 2023, respectively packages of at least 37,000 Electrica’s shares (symbol EL) to buy and to sell, at a maximum difference of 2 % between quotes.
Electrica’s CEO Alexandru Chirita said that the company’s entry into the FTSE Russell international index series is one of our main objectives for the next period, and signing with the two biggest players on the local market- making market is the optimal measure to achieve this goal, which will be felt, implicitly, in a positive sense on the market value and visibility of Electrica, both for the benefit of its current shareholders and future investors.
For BRK Financial Group, Electrica is the 16th share for which the company provides market- making services for the issuer, being the most active broker on the BVB profile market. For Wood&Co, Electrica is the fourth issuer in the portfolio, the brokerage company being the second largest player in the market-making market for the issuer.
With Electrica, the number of issuers benefiting from dedicated market-making services reaches 20, with the mention that 3 companies, including Electrica, benefit from dual market-making services.
