the value of market capitalization / shareholders’ equity of at least 1 million euro Have a free-float of at least 25% (shares not owned by the company, nor by strategic investors) Be active on the market for the last 3 years and have available financial reports from that period. AeRO Market AeRO market is the equities segment of the Alternative trading system (ATS). AeRO market was designed from the need of providing a financing alternative for entrepreneurs, and is the equity segment of the alternative trading system managed by the Bucharest Stock Exchange (BVB). It is a market segment designed for listing of early stage companies, start-ups and SMEs, to finance their projects, growth stories, increase their visibility and contribute to the development of the business environment. Based on the BVB alternative trading system existing since 2010, the AeRO market, under its redesigned and reconstructed concept, was launched on February 25, 2015. Key features of AeRO market: It addresses all types of companies, regardless of their size or time since establishment, It was created for both shares and bonds, as well as for other financial instruments that do not comply with the requirements of the regulated market, The listing features are simplified, as there is no need for a prospectus to be admitted to trading, but only for a corporate presentation, The reporting requirements are low as compared to the regulated market, A company may prepare to get transferred on the regulated market by gradually increasing the free float, the cash. Indices Bucharest Stock Exchange has 8 local indices and one international:indices: BET BET was the first index developed by BVB. It is the reference index for the capital markets. BET follows the evolution of the 15 most liquid companies listed on BVB regulated market, excluding financial investment companies (SIFs). It is an index weighted by free float capitalization. The maximum weight of the symbol is 20%. The main selection criterion is company’s liquidity. Starting with 2015, additional requirements of transparency, quality reporting and communication with investors was imposed. BET index structure: Updated 13 November, 2018 BET-TR BET-TR is the first total return index launched by BVB. It is based on the structure of market reference index BET. BET-TR reflects the evolution of its component shares and dividend yields offered by them. Index is composed of the 13 most traded companies on BVB, excluding SIFs. Similarly to BET, the main