Finalists of BVB Arena 2024 reveal plans to expand, issue bonds, or list shares on the Bucharest Stock Exchange
<h3 style="margin-bottom: 13px;">BVB Arena, a flagship program coordinated by the Bucharest Stock Exchange to bring Romanian entrepreneurial companies closer to the capital market, revealed this year’s 15 finalists in a gala held in Bucharest on September 26. Some of the finalists took the opportunity to unveil plans to accelerate growth and take their business to the next level by listing bonds or shares at the Bucharest Stock Exchange.</h3>

<p>Launched in 2017, BVB Arena is at its sixth edition. The program started as Made in Romania, an initiative meant to encourage Romanian companies to gain access to capital markets. This iconic program dedicated to Romanian entrepreneurs was rebranded this year with a new identity and a new name to visually place it under the umbrella of BVB projects.</p>

<p>In the opening speech at the BVB Arena 2024 Awards Gala, <strong>Radu Hanga, the president of the Board of Directors of the Bucharest Stock Exchange</strong>, noted the success of the initiative. “We have had over 1,500 companies, small companies, large companies, which have gone through the Made in Romania project. Some of them have reached the stage of the Bucharest Stock Exchange, either by issuing shares or by bonds,” he said. He also argued that global economic trends point to a localization of production, which will bring benefits to the Romanian economy.</p>

<p>Adrian Tănase, the CEO of the Bucharest Stock Exchange, added that ample risk capital is available in the Romanian market and that entrepreneurs must learn how to access it. He also said that the BVB Arena and Made in Romania programs allowed 20 participating companies to access capital market financing of over EUR 236 million.</p>

<p>Also speaking at the event, state officials from the Ministry of Finance and the Financial Supervisory Authority noted the success of recent listings of state and private companies at the Bucharest Stock Exchange.</p>

<p>A total of 409 companies were nominated for the BVB Arena 2024 program, out of which 50 were selected as semifinalists. The next phase saw 15 companies extracted - 12 by a specialist jury and 3 voted by the public - from that list and announced during the Gala held on Thursday, September 26.&nbsp;</p>

<p>Most of the finalist companies are active in commerce, the IT sector, and the food industry, as well as sectors like education or transportation. Some 81% of the finalists are small and medium-sized businesses, and a quarter have between 1 and 9 employees. Nearly the same percentage have over 150 employees. Additionally, some have several decades of activity, while others are new players in the market.</p>

<p>The first to receive the award for being selected as a finalist was Abund Berry, a successful agricultural family business that was started in 2017 and reached a EUR 7 million turnover this year. “We began with a dream, and now we’re aiming for larger surfaces, quantities, and higher quality. At the moment, the climate is our biggest challenge, as farmers know well. We want to be relevant and present in the market,” said Ionel Burea, CEO of the company located in Gorj County.</p>

<p>Autonom, another finalist in the BVB Arena 2024, is a car rental company started 16 years ago by two brothers in the city of Piatra Neamt, in north-eastern Romania. Today, the company operates the most extensive mobility network in Romania and is also active in Hungary. “We believe everything revolves around the client, but also our ability to grow,” said Radu Predescu, executive director of Autonom. “In 2019, we had our first round of bond financing. It worked well, and we felt the confidence stemming from our investors and clients. Another round followed, and we will have another one soon,” he added.</p>

<p>Other finalists sought to encourage fellow entrepreneurs. “Eight years ago I had a vision about making Romanian products in Romania. It takes a lot of effort, research, development, and the financing of ideas and products. It is, however, possible in Romania as well,” said Contantin Pintilie, founder and CEO of BlueSpace Technology, a NATO-certified company active in IT security and TEMPEST solutions.</p>

<p>Alex Șelaru, co-founder of Edus Platform, said that the company becoming a finalist of the BVB Arena 2024 is a milestone on its road to being listed on the stock exchange. “I believe the education sector needs you, the investors, and it needs the resources so that in the future, we, the entrepreneurs, will be able to work with the best people in the region,” he added.&nbsp;</p>

<p>The Edus Platform representative told Romania Insider that they plan to take the company public in 2-3 years to participate in the growth of the Romanian investor market. Being a finalist in the BVB Arena represents part of that effort and brings with it valuable experience and exposure to the capital markets, Șelaru said.&nbsp;</p>

<p>Well-known electronics marketplace evoMAG was another one of the finalists awarded at the Gala. Mihai Pătrașcu, CEO of the company, said that the award is a recognition of the dedication and work put in by its team of around 85 people.</p>

<p>IT Genetics, also a finalist in this year’s edition of the BVB Arena, is among those on track to become publicly traded. Stefan Axinte, managing partner of IT Genetics, told Romania Insider that the company’s shares will be listed on the stock exchange by yearend.&nbsp;</p>

<p>Founded in 2007, the company has around 11,000 active customers and operates in 5 countries, Romania being its biggest market. For Axinte, being a finalist in the competition brings visibility but also recognition of the team’s efforts. The company employs around 90 people, and has become a regional player, also operating a logistics hub in Spain.</p>

<p>The other finalists of the BVB Arena 2024 program are construction company Alezzi Beach Resort, educational platform Bookzone, food group Boromir, tourism company Eturia, dairy producer Ferma cu Omenie, cosmetics producer Ivatherm, IT&amp;C company Mindit Services, mineral water producer Perla Harghitei and traditional food producer Razvan Indicel.</p>

<p>Now that the finalists have been announced, the workshops under the Mentoring Program will be organized, helping them build new knowledge in various areas of activity.</p>

<p style="margin-bottom:13px"><em>radu@romania-insider.com</em></p>

<p style="margin-bottom:13px"><em>(Photo source: BVB)</em></p>