Morgan Stanley to land at Bucharest Stock Exchange

Newsroom 19/09/2007 | 16:22

The bank bought 200 shares in the local brokerage company last week, thus becoming a shareholder in the BSE. However, since the 200 shares are preferential, not ordinary, ones, Morgan Stanley did not get the right to vote in the BSE's General Shareholders' Assemblies. The bank will gain this right after it takes over HTI Valori Mobiliare in a maximum of 30 days.
Morgan Stanley submitted the necessary documents to the CNVM last week and sources on the market said the approval could take anywhere between a week and a month, depending on how complete the file is.
HTI Valori Mobiliare was the second biggest BSE shareholder in April this year, after Intervam, owning in excess of 96,300 shares, which correspond to 2.76 percent of the BSE capital. HTI president Daniel Tepes owned approximately 0.5 percent of the package.
Morgan Stanley's move on the Romanian capital market will give it a strong voice in the Sibiu Stock Exchange (BMFMS) too. HTI controlled about 17 percent of BMFMS capital in August this year, directly and indirectly.

Ana-Maria David

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