Monday | January 30, 2023 |
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Press releases

EBRD and Bucharest Stock Exchange launch Investor Relations and Liquidity Support Programme. Listed companies invited to apply by 28 February to join


  • EBRD and Bucharest Stock Exchange launch a new Investor Relations and Liquidity Support Programme.
  • Up to 3 companies will be selected to receive support on improving their Investor Relations activities.
  • Companies listed on the Bucharest Stock Exchange invited to apply by 28 February.


The European Bank for Reconstruction and Development (EBRD) and the Bucharest Stock Exchange (BVB) are launching a new Investor Relations and Liquidity Support Programme in Romania, to improve capital market visibility and stock exchange liquidity of up to 3 selected issuers. The Programme will be run in close cooperation with the selected companies and a team of professional Investor Relations (IR) consultants with local and international expertise from the Romanian consultancy VERTIK.

The joint initiative will enable selected companies to increase their visibility on the Romanian capital markets and gain a set of essential tools to better position their equity story in front of investors. Companies will receive tangible support tailored to their needs, including on strategy development to create an effective investment story, internal management of IR activity, as well as training for IR teams to support strategy implementation for 6 months following strategy delivery.

Issuers interested in joining the Programme can apply until 28 February 2023. More than 10 listed companies are expected to apply to the Programme, out of which up to 3 will be selected. The consultancy collaboration is expected to start in May 2023 at the latest. Additional information regarding the application process is available here.

80% of the costs of the advisory services provided for the selected companies under the Programme are covered by the KTACF - Capital Markets Development Technical Cooperation Programme, funded by the Government of Korea, while 20% of the costs are expected to be covered by the selected companies.  

To find out more about the Programme, and hear about the latest trends in IR, businesses are invited to join an online workshop hosted by the EBRD, Bucharest Stock Exchange and the Romanian consultancy VERTIK on 19 January. Companies wishing to join the workshop should register their participation here.

"The Bucharest Stock Exchange has a strong and diversified investor base, and a base of issuers that have the potential to become more attractive by using proactive IR and liquidity tools. In the long term, we believe the success of listed companies depends on how they manage to build an active secondary market that keeps the investors’ focus on the company and continuously attracts new investors. This would lead to a more efficient capital market with companies able to access capital at a reasonable cost, subsequently increasing investment in their business and driving increased employment and their overall contribution to the economy” said Attila Toth, Principal, Capital & Financial Markets Development Team, European Bank for Reconstruction and Development.

"We are delighted to witness the start of the Investor Relations and Liquidity Support Programme in Romania, thanks to this EBRD initiative. We invite the listed companies on the Bucharest Stock Exchange to apply as we firmly believe that we have many interesting investment stories, able to attract significantly higher investor interest.  A clear and effective strategy for a company’s capital market presence is a decisive factor that can improve market visibility, investor perception and, ultimately, liquidity and valuations and this is what we target” declared Adrian Tanase, CEO Bucharest Stock Exchange.

"We are honored to have been appointed as Consultants for the ” Investor Relations and Liquidity Support Programme” and thus contribute with our expertise to such a unique project through which up to 3 companies will upgrade their IR practices and become more visible on the capital markets. We will work closely with each company’s team, both management and IR professionals, to design a suitable approach and define and support the implementation of the best IR tools for the long-term benefit of the company and all shareholders. Unlocking value through better IR means bringing businesses closer to investors by using diversified communication techniques and instruments, which is our day-to-day mission at VERTIK” stated Daniela Serban, Lead Consultant, Founder & Managing Partner VERTIK.

For additional questions, companies are requested to get in touch with Daniela Serban, at



Headquarted in Bucharest, VERTIK provides integrated support services for the development and implementation of Investor Relations and Public Relations tailored to the company's needs on the Romanian and international capital markets. The company works with some of the recently listed companies on BVB, included in the main index, BET, with companies listed on the AeRO market, as well as those interested in issuing equities or bonds.


About Bucharest Stock Exchange

Fundamental institution of the capital market, Bucharest Stock Exchange is the only securities market operator in Romania. Bucharest Stock Exchange, a company listed on its own market since 2010, is part of the BVB Group which also includes Depozitarul Central, the institution responsible for registry and settlement operations in Romania, and in October 2019 the central counterparty CCP.RO, institution which will take over the function of clearing trades with securities in Romania and which will contribute to the relaunch of the derivatives market.

The cumulative market capitalization of all companies listed on Bucharest Stock Exchange (local and international) exceeds EUR 44 bn (data as of 16 January 2023).

In 2022, BET index reached 20 companies, for the first time in its history. Also, at the end of 2022, Romania had 13 listed companies included in the FTSE Russell indices dedicated to emerging markets, seven in the FTSE Global Micro Cap indices and six in the FTSE Global All Cap indices. For more information on Bucharest Stock Exchange, please refer to


About The European Bank for Reconstruction and Development

The EBRD is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 38 economies across three continents. The Bank is owned by 71 countries as well as the EU and the EIB. EBRD investments are aimed at making the economies in its regions competitive, well-governed, green, inclusive, resilient and integrated. To date, the Bank has invested more than €10 billion in more than 500 projects in Romania.


For more information, please contact, Bucharest Stock Exchange Marketing and Communication Department.