Transilvania Broker de Asigurare becomes the first insurance brokerage company to be listed on Bucharest Stock Exchange

Transilvania Broker de Asigurare, a leading insurance brokerage company, will get listed on the main market of the Bucharest Stock Exchange (BVB) following a secondary initial public offer, which was oversubscribed by over 270 per cent in the first two days. Transilvania Broker thus becomes the first insurance broker in Romania to be listed on BVB.

2017-10-26 11:40:06

"The future sounds promising and we will try to take advantage of this trust capital we were offered," said Dan Niculae, general manager of Transilvania Broker. "Our agenda is fully loaded starting from tomorrow as we have audacious plans: we aim for a market share of a minimum 10 per cent in the next couple of years, we continue to develop products and services related to the insurance industry together with our partners in the market, we continue to develop corporate, health / life, damage departments by attracting people with a high level of expertise and new collaborators who will generate rising volumes. All of these, in addition to many other projects, will lead to an increase in turnover, revenue and profit margins over the next three to five years."

The sale offer was closed after a day and a half, when subscription rate of over 270 per cent was reached and over 800 orders from institutional and retail investors were introduced into the system, totaling nearly 1.7 million shares.

Transilvania Broker has a network of over 1,500 collaborators across the country and a portfolio of over 900,000 unique clients, individuals and businesses, according to data available at the end of last year.