The Romanian Investor Relations Association (ARIR) is pleased to announce that OMV Petrom (BVB:SNP, LSE:PETB), the largest Romanian listed company in terms of market capitalization from Bucharest Stock Exchange (BVB), becomes Associate Member of ARIR.
Alina Popa, CFO OMV Petrom: “We are proud to join ARIR. Being among the first Romanian listed companies to have an IR department, we have been pioneers in terms of capital market communication and engagement, and continuously develop our IR activities. We are confident that the dialogue enabled by ARIR will help share best practices in corporate disclosure and governance and will facilitate the development of a more investor-friendly capital market legislative framework. Ultimately, by joining our efforts to develop the local capital market, we are hoping to contribute significantly to improving investors’ perception towards Romania and to getting the country closer to an upgrade from Frontier to Emerging market status.”
Daniela Șerban, ARIR President: ”In just 6 months since its setting up, ARIR attracts a new valuable member, with strong corporate governance and investor relations landmarks. The association with OMV Petrom, one of the largest Romanian companies, honours us and strengthens the community of Investor Relations professionals. The efforts to increase the transparency of listed companies are starting to pay off. More and more listed companies have begun to comply with the new methodology for evaluating the communication of listed companies, the final score will be made public for every company at the beginning of the next year.”
OMV Petrom is the largest energy company in Southeastern Europe, with activities along the entire energy chain: from exploration and production of oil and gas, to refining and fuels distribution, and further on to power generation and marketing of gas and power. OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51.011% stake in OMV Petrom; the Romanian State, through the Ministry of Energy, holds 20.639% of OMV Petrom shares, Fondul Proprietatea holds 9.998%, and 18.352% is the free float on the Bucharest Stock Exchange and the London Stock Exchange.
OMV Petrom joins an elite group of companies, members of the Association, such as Bucharest Stock Exchange, ALRO, Electrica, Electromagnetica, Hidrolectrica, Nuclearelectrica, Teraplast and Transelectrica.
ARIR was set-up in November 2018 and has as members listed companies, companies with potential to become listed companies, fund managers, IR professionals as well as consultants. In ARIR are invited to join: as Associate Members – listed companies, pre-IPO or bond issuers, as Affiliate Members – other organizations than listed companies, pre-IPO or bond issuers, and as Professional Members – individuals with experience in investor relations. ARIRmembers have access to exclusive content and trainings tailored to their needs and IR objectives, and participate at projects aimed to develop the capital market.
ARIR is a non-governmental and non-profit organization that was set-up to provide current and potential issuers a platform for the development of Investor Relations (IR) professionals and contribute to the implementation of best practices in investor communication and corporate governance. The founding members are BVB, ALRO, Franklin Templeton Management – Bucharest Branch, Electromagnetica, Hidroelectrica, Nuclearelectrica, Teraplast, Transelectrica, Daniela Șerban, Cosmin Răduță and Tony Romani, while Electrica joined as Associate Member and INNOVA Project Consulting as Affiliate Member.