Moldova to set up new bourse with Bucharest Stock Exchange

CHISINAU. Dec 10 (Interfax) - The Moldovan authorities have decided to set up a Chisinau Stock Exchange, co-founded by the Bucharest Stock Exchange, the Moldovan Economic Development and Digitalization Ministry said.

"We are attracting global institutional investors who will integrate our companies into global value chains. We are connecting with European markets and speeding up the development of our capital market. Partnership with the Bucharest Stock Exchange brings experience and international authority to our capital market. This is a strategic project that we have been working on together with the National Bank, the National Financial Markets Commission and the Finance Ministry," it said.

Moldova will participate in this exchange as a shareholder, which will enable it to influence how the stock exchange develops.

"All citizens will be able to invest in financial instruments that will become the basis for private pension and insurance funds, and our companies will have easier access to Romanian and international capital thanks to advanced trading technologies," the ministry said.

The National Bank of Moldova has been in talks with the Bucharest Stock Exchange (Bursa de Valori Bucuresti, BVB) and Romanian stock market regulators on the possible dual listing of Moldovan companies on the Moldovan Stock Exchange and BVB, as well as mechanisms for trading shares and other financial instruments on BVB.

The existing Moldovan Stock Exchange, which has been operating since 1994, was set up by 34 professional securities market participants and is a member of the International Association of CIS Exchanges.