Bucharest Stock Exchange (BVB) has decided to expand the composition of its main index, the BET, for the first time since its launch, in September 1997. The BET will thus have 12 companies in its composition, up from 10 until now.

The state-owned oil pipe operator Conpet Ploiesti (COTE) and private healthcare operator MedLife (M) will be added to the index starting March 20.

In December 2016, MedLife became the first private company that listed its shares on the Bucharest Stock Exchange through an initial public offering (IPO) after more than 8 years.

The BET index currently includes six companies in the energy sector and four companies in the financial sector. Local lender Banca Transilvania (TLV), investment fund Fondul Proprietatea (FP), and oil&gas group OMV Petrom have the highest shares in the index.

The BET index has gained 13% since the beginning of this year and is in top 10 worldwide in terms of growth this year, according to BVB representatives.

editor@romania-insider.com