Romgaz could play an important role in the potential promotion of the capital market in Romania to emerging market status also from the MSCI, Adrian Tanase, CEO of the Bucharest Stock Exchange (BVB), said on Monday, according to a press release.
“We are marking a decade since the listing on the local stock exchange of a reference company in the Romanian economy, Romgaz, a company with a rich history that laid the foundations of the natural gas industry in Romania. Today, firmly anchored in the dynamics of the present, Romgaz is the largest producer and the main supplier of natural gas in Romania, carrying out projects of national interest and diversifying the activity it carries out, thus representing an example of a successful issuer that attracts the attention of institutional investors. At the Bucharest Stock Exchange, Romgaz, a company whose majority shareholder is the Romanian state, is one of the most traded companies and at the same time its shares occupy a considerable weight in the BVB indices. Considering the good liquidity of SNG in the recent period, we hope that soon we will see Romgaz also present in the indices of the global index provider FTSE Russell for emerging markets and we also expect Romgaz to play an important role in the potential promotion of the Romanian capital market to emerging market status by MSCI as well. With a market capitalization that has increased by 52% compared to the IPO, with a total return of 171%, Romgaz is certainly an eloquent example of the performance that a state-owned company can have on the Bucharest Stock Exchange,” said Adrian Tanase, CEO of the Bucharest Stock Exchange.
Romgaz SA, the largest producer and main supplier of natural gas in Romania, celebrates 10 years since its listing on the Bucharest Stock Exchange, under the stock symbol SNG. The company’s shares have been traded on the stock exchange since November 12, 2013. At the end of the trading session on November 10, 2023, the company’s capitalization was 17.9 billion lei, being the fourth largest company listed on the stock exchange, depending on capitalization.
“On this special day, we mark an important milestone in our history – a decade since the listing of Romgaz on the Stock Exchange. This stage represented a commitment to shareholders mainly by increasing transparency, as well as a decisive step towards sustainable and responsible development. The team our company has demonstrated perseverance and continuous work, generating constant value for shareholders. This success would not have been possible without the support and trust of our investors, who have been with us at every stage of the company’s development. In the decade since the listing, Romgaz has demonstrated top performance in the natural gas industry,” said Răzvan Popescu, Romgaz general manager.
According to the quoted source, the Romgaz share price on the Stock Exchange reached the historical maximum of 52.2 lei/share during the trading session of June 27, 2022, which led to a maximum capitalization of 19.93 billion lei. Also, the increased interest of investors was due both to the purchase by Romgaz of the participation in the Neptun Deep perimeter, and to the remarkable financial results obtained by the company.