Romania’s Financial Supervisory Authority has completed the process of restructuring the RASDAQ stock market.

Some 311 companies that had been listed on RASDAQ have moved to Bucharest Stock Exchange’s regulated market or to the alternative trading system (ATS), whereas 562 have been delisted.

In October last year, Romania’s Parliament decided that the RASDAQ section of the Bucharest Stock Exchange would be dissolved. The companies which were still listed on the RASDAQ market at that time had to decide, via general shareholders’ meetings, if they wanted to move to the main market of the Bucharest Stock Exchange, to an alternative trading system, or if they wanted to be delisted.

The RASDAQ market was launched in 1996, with American expertise and funding. Most of the companies which the state privatized through its mass privatization program were listed in the beginning on this market, which in 1999 had more than 5,500 companies.

editor@romania-insider.com