Romanian brokerage company, BRK Financial Group (BRK) listed its first bond issue worth RON 25 mln on the Bucharest Stock Exchange (BVB) main market on Tuesday under the ticker BRK26, according to a press release.
“The RON 25mln attracted through the private placement will support the expansion of the market-making activity and the diversification of the structured products portfolio,” said BVB.
BRK Financial Group is currently the leader in the structured products segment, with 38.1% of the total traded value since the beginning of 2021. BRK generated higher revenues by 119% in H1 2021 up to RON 8.9mn (H1 2020: RON 4.1mn)
The broker from Cluj-Napoca is an issuer market maker for 12 financial instruments, 11 shares and a bond issue.
The company celebrates 27 years of activity on the local capital market and is the only brokerage company listed on BVB.
“Brokers are one of the most important capital market pillars. (…) We are glad that BRK is an active broker, both in relation to stock market investors and in terms of financing opportunities given to Romanian entrepreneurial companies,” said Radu Hanga, BVB’s President.
“With the attracted funds, we increased our working capital to approximately RON 130mln, which remains mainly financed by equity (73%), complementary by bonds (19%) and residual by credit lines. The funds will sustain the extension of some business lines that generate high added value,” stated Monica Ivan, BRK Financial Group CEO.
BRK intends to list structured products on other Central European markets, namely stock exchanges in Poland, Hungary and Austria.