The FTSE Russell financial assessment agency didn’t promote the Bucharest Stock Exchange to the emerging market category from the frontier category. However, it decided to keep it on the watchlist for another year. A new decision could be made in September next year.

The agency included Romania on its watchlist in September last year.

The FTSE announced on Friday evening that the Warsaw stock exchange, the largest in the region, was promoted from the advanced market category to a developed market. Poland had been on the watchlist since 2011.

The Romanian capital market can’t promote to the emerging status without the listing of Hidroelectrica, the largest power producer in Romania, Greg Konieczny, CEO and fund manager of the investment fund Fondul Proprietatea, told Agerpres. However, the company doesn’t have a supervisory board that could lead it to an initial public offering. It also doesn’t have an executive board with a long-term mandate.

editor@romania-insider.com