Bucharest, February 27th, 2025 – ARIR (the Romanian Investor Relations Association), the promoter of the Investor Relations (IR) concept, announces the revision of the VEKTOR by ARIR methodology for the Regulated Market and that, starting in 2025, both issuers and corporate bond issuances listed on the Bucharest Stock Exchange will be evaluated.
The methodology for the Regulated Market has been updated to place greater emphasis on criteria related to investor communication tools. The updated methodology includes requirements such as organizing four earnings call teleconferences per year, publishing access details for these calls, as well as transcripts or recordings in both Romanian and English, making financial results available in an easily processable format, and participating in investor-focused events. As part of the update process, criteria overlapping with the revised version of the Bucharest Stock Exchange’s Corporate Governance Code (CGC) have been removed, including those related to the Corporate Governance section on issuers’ websites and the publication of remuneration and dividend policies. The 2025 methodology for the Regulated Market can be accessed here.
The methodology for evaluating companies in the BETAeRO index has not been modified this year and can be accessed here. The criteria considered include aspects such as the presentation of the company’s management, quarterly reporting, providing results in a processable format, and the publication of dividend and remuneration policies.
As a new initiative, ARIR has conducted a preliminary evaluation of corporate bond issuances listed on the Bucharest Stock Exchange, with voluntary publication for companies that request it. The full results of this evaluation will be published for the first time in January 2026. Issuers interested in knowing their score from the preliminary evaluation are encouraged to contact the ARIR team at contact@ir-romania.ro.
The first VEKTOR by ARIR Bonds evaluation to be published on the BVB website will take place in December 2025, and the methodology can be accessed here. The methodology includes criteria such as presenting bond issuances on the issuer’s website, introducing the management team, publishing General Shareholders’ Meeting resolutions on the BVB platform, and publishing a credit rating report.
The VEKTOR by ARIR 2025 evaluation will begin on December 1st, with the results set to be published on each issuer’s page on the Bucharest Stock Exchange website and on the ARIR website in January 2026.
At the end of January, ARIR published the results of the VEKTOR by ARIR 2024 evaluation. For the first time, the results were presented through an aggregated report that includes market statistics for the past six years.
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About the Romanian Investor Relations Association (ARIR):
ARIR is the promoter of the Investor Relations (IR) concept in Romania and we believe that by following standards of transparency, corporate governance and proactivity in communicating with investors, our members will benefit from added value, attract funding more easily, have the reputation and trust necessary for the continued development of their business.
The Romanian Investor Relations Association – ARIR was founded at the initiative of Daniela Maior (Șerban) in November 2018 together with the founding members: Bucharest Stock Exchange (BVB), ALRO, Franklin Templeton Management – Bucharest, Hidroelectrica, Nuclearelectrica, Teraplast, Transelectrica, and Tony Romani. The following companies have joined the community: Electrica, OMV Petrom, Antibiotice, Purcari, Salt Bank, BRK Financial Group, Banca Transilvania, Transgaz, MedLife, Romcarbon, Farmaceutica REMEDIA, Autonom, IMPACT Developer & Contractor, One United Properties, Transport Trade Services, Patria Bank, BRD – Groupe Société Générale, Rompetrol, Agista, Mecanica Fină, AQUILA, Mecanica Fină, Bento, ROMGAZ, DN AGRAR, Sphera Franchise Group and ROCA Industry as Associate Members. ENVISIA, RTPR, Forvis Mazars, and Marsh Broker de Asigurare – Reasigurare became Affiliated Members.
More information about ARIR: www.ir-romania.ro.
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