Daniela Secară, CEO BT Capital Partners, took part in the first edition of BT Invest, held in Oradea in partnership with Ziarul Financiar, where she spoke about the benefits of listing for companies and about the role of the capital market in supporting entrepreneurs’ growth plans:

• In recent years, Romania’s capital market has posted spectacular growth compared with regional markets. Since the pension funds were set up, we have institutional investors and ever larger amounts of money flowing into the capital market.
   
• How would I persuade a company to list? A listing—whether via equity or bond issues—never replaces bank financing. It complements bank financing. At any point, it is wise for an entrepreneur to have alternatives for raising growth capital.
  
  
• Listing brings investors into the company without the entrepreneur giving up control. Entrepreneurs want to keep control, which is natural—they built the business. They are not relinquishing control; they are bringing alongside them people who believe in the company and the sector and who can help take the company to the next level. It also depends a lot on the company’s stage of development. Beyond a certain growth threshold, companies need capital other than bank financing.
  
  
• When an investor values a company, they first look at the country and the sector it operates in, then assess it relative to companies listed in the region, applying a certain discount or premium.
  
  

At the BT Invest conference “How Romanian capital can grow together. From investors to companies. From capital to business”, the Banca Transilvania Financial Group was also represented by Aurel Bernat, Executive Director, Financial Markets and Investor Relations, Banca Transilvania, and by Dan Dascăl, CEO BT Asset Management.