Another Stock Exchange Will Be Launched in Moldova

Another Stock Exchange Will Be Launched in Moldova

On September 15, at Moldova Business Week 2025, the Ministry of Economic Development and Digitalization announces the establishment of a new stock exchange in partnership with Bursa de Valori București and a group of major investors from the Republic of Moldova (see video).

Thus, the capital market of the Republic of Moldova enters a new stage of development: alongside the existing stock exchange, a second trading platform is being launched. The event is significant for investors and companies seeking financing through stock exchange mechanisms.

Who the Participants Are

The new stock exchange will be organized as a joint-stock company and will constitute a strategic pillar for expanding access to capital for Moldovan companies and for attracting foreign investment, including for integration into the European capital market.

This project came to life through collaboration between the Government of the Republic of Moldova, the Public Property Agency, Bursa de Valori Bucuresti and major investors such as maib, Donaris Vienna Insurance Group, OTP Bank, Moldindconbank, MK Kapital and Moldcell.

It is known that the initial share capital of the new Stock Exchange will be three million euro, and the majority stake in the new stock exchange will be held by the state. An important investor is Bursa de Valori de la București, with 31% of the shares. 

Bursa De Valori București - Main Partner

As the main investor, Bursa de Valori București (BVB) will contribute through its advanced trading technology and regulatory experience. BVB is one of the most important regional exchanges, with the fastest growth, currently having a market capitalization of over 85 billion EUR and daily liquidity of over 12 million EUR in 2025. In 2023, BVB attracted the largest initial public offering (IPO) in Europe, with Hidroelectrica raising 1,9 billion EUR. BVB has over 260 000 investor accounts and allows international investors to invest in Romanian and international securities.  

What Will Be Traded on the New Stock Exchange

The new exchange will use the trading platform ARENA Trading, provided by Bursa de Valori de la București  -  a modern system, internationally recognized, that promises a higher level of transparency and efficiency in trading.

According to official information, the exchange will allow trading in:

• shares of local companies,
• corporate and government bonds,
• government and corporate securities
• possibly also other financial instruments to be approved by the authorities.

The new Stock Exchange will become operational from the summer of 2026.

 

A guide about how and why to invest on financial exchanges is offered by Banca Nationala a Moldovei, in an article about Financial Education for everyone.

Two Exchanges - A More Competitive Market

The emergence of a second exchange operator marks an important step toward increasing competitiveness and diversifying the offering for participants. Investors will have the possibility to choose between two platforms, while listed companies will benefit from alternatives for attracting capital.

At the same time, this can generate additional liquidity, but also an adaptation process for brokers and investors, who will have to decide where to concentrate their activity.

Moldova is connecting to European financial markets – the launch in Chișinău of the new Stock Exchange brings concrete opportunities for our entrepreneurs and foreign investors, especially from Romania, to open businesses in Moldova.

Dorin Recean, Prime Minister of the Republic of Moldova

Our capital market is taking firm steps toward development and requires transparency, modern instruments and access to international expertise to capitalize on its growth potential. Through this partnership with Bursa de Valori București and strong institutional investors, we offer Moldovan companies multiple alternatives for obtaining financing, and investors – varied options to grow their capital through stock exchange mechanisms.

Doina Nistor, Deputy Prime Minister and Minister of Economic Development and Digitalization

The future exchange in Chișinău will represent an essential pillar for the economic development of the Republic of Moldova. For Bursa de Valori București it is an honor to stand alongside this project, bringing our experience and resources, but above all the desire to build together with local partners a modern and transparent market. This exchange means real chances for entrepreneurs, security for investors and a decisive step toward closer regional cooperation.

Radu Hanga, President of Bursa de Valori Bucureșt

Romania and the Republic of Moldova are developing today not only a financial bridge, but also taking another step westward. The launch of the Chișinău exchange brings trust, clarity and concrete progress toward Moldova’s economic integration into the European Union. We are pleased to be partners and to provide the 30 years of experience of the Romanian capital market so that this initiative becomes irreversible.

Radu Miruța, Minister of Economy, Digitalization, Entrepreneurship and Tourism of Romania

Moldova is living a historic moment, the country’s future is in the EU. If you invest in Moldova, you invest in a future EU state. Do not wait. The reward will be greater for those who do this earlier.

Iwona Piorko, EU Ambassador to the Republic of Moldova

This is a very important step in the development of the capital market in the Republic of Moldova. A modern exchange will allow Moldovan companies to attract capital through access to European markets, diversification of capital structures and reduction of financing costs. It will also strengthen companies by promoting the adoption of best governance practices. I am grateful to BVB for the leadership, expertise and essential contribution in creating this platform, and I would also like to thank our co-investors for their active participation and support.

Giorgi Shagidze, President of maib

Conclusion

Through this initiative, the Republic of Moldova strengthens its European path, creates real opportunities for entrepreneurs and investors and opens a new chapter of economic development through the modernization of capital market infrastructure.

The launch of the second stock exchange in the Republic of Moldova is a strong signal of capital market modernization. For active participants this represents both new opportunities and the challenge of assessing the extent to which the local market will be able to compete with the attractiveness of international exchanges.

Sources: mded.gov.md, agora.md, maib.md, moldova1.md,