The Bucharest Stock Exchange (BVB) hopes that the Romanian Government will continue state asset sales this year. This would help the bourse achieve the emerging-market status upgrade.

BVB is currently in the frontier-market index.

To reach the new status, BVB will host four initial public offerings this year, BVB Chief Executive Officer Ludwik Sobolewski said.

“We already fulfill the criteria,” he added, cited by Bloomberg.com.

“All our efforts are aimed at getting on the watch list, if not this year, then next year. In the meantime, we want to have a deeper market for equities, which will be fueled by the privatization program.”

Romania raised USD 800 million (EUR 699 mln) in two IPOs last year as part of its agreement with the International Monetary Fund and the European Union. However, the Government has paused further asset sales as it fights insolvency claims and deals with restructuring.

editor@romania-insider.com