EBRD launches mid-cap companies equity research programme, four Romanian companies to join

The European Bank for Reconstruction and Development (EBRD) is launching a dedicated research programme in support of the development of mid-cap companies in selected countries where the Bank invests.

Funded by the TaiwanBusiness-EBRD Technical Cooperation Fund, the programme will provide research coverage for a set of mid-cap companies listed on the stock exchanges in Bulgaria, Croatia, North Macedonia, Romania, Serbia and Slovenia. The reports will be publicly available free of charge on the newly created Listed SME Research Hub.

The aim is to produce free, publicly available, high-quality research reports to overcome information barriers that depress market liquidity. Making markets more transparent by increasing the amount of reliable information is regarded as key to increasing the availability of financing for mid-cap companies.

The two-year research programme will be conducted by WOOD & Company, an investment bank specialising in emerging markets. The programme is fully aligned with the objectives of the European Commission’s Action Plan on Building a Capital Markets Union, which specifically mentions improving access to finance, including risk capital, notably for mid-cap companies as one of the five priority areas.

The following companies are participants in the programme:

• Bulgaria:Gradus AD, Monbat, Sirma Group Holding JSC, Sopharma AD.
• Croatia:AD PLASTIK d.d., Arena Hospitality Group d.d., Ilirija Resort, Zagreb Stock Exchange.
• North Macedonia:Alkaloid AD Skopje, Komercijalna banka AD, NLB Banka AD.
• Romania:Bittnet, Conpet, Patria Bank, Teraplast.
• Serbia:Fintel Energija ad.
• Slovenia:Pozavarovalnica Sava RE.