Sibiu Stock Exchange valued at 10.5m euros

The first transactions with the shares of the Sibiu Exchange (Sibex) conducted for the first time after its listing at the end of last week valued the market operator at around 43 million RON (10.5 million euros), with this being the first official evaluation of a local stock exchange operator. After yesterday's trading session, the value had gone up by 10% to 11.5 million euros. The Sibiu exchange, launched by Teodor Ancuta 15 years ago is currently the main derivatives market in Romania. On Friday the Sibiu Exchange also launched its stock market, where it intends to compete with the Bucharest Stock Exchange. The capitalisation of the Sibiu Stock Exchange at the time of its listing was 32 times higher than its net profit in the first nine months of last year, which stood at 1.33 million RON (310,000 euros). In 2008 Sibex posted a profit worth around 1 million RON. This is the first time that the shares of a South-Eastern European exchange are listed. In the first session 69,660 Sibex shares (SBX) were traded on the market, worth a total of around 143,000 RON (34,000 euros), at an average price of around 2 RON/share. Yesterday, the Sibex shares traded for 2.2 RON. The listing of Sibex has prompted the Bucharest Stock Exchange to speed up the process of its own floatation, which is just formalities away from being done.