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Securities Market Investor Base Study: EBRD's Countries of Operation


Regional, 04 December 2018

Project Description

The Technical Cooperation (TC) project is taking place within the European Bank for Reconstruction and Development (the "EBRD" or the "Bank") Initiative on Local Currency and Capital Markets Development (LC2). This Bank-wide strategic initiative aims to identify and support sequenced reforms and policies in the economies where the EBRD invests that contribute to the development of local currency and capital markets.

Under the competitive conditions of globalisation, a growing number of companies are now compelled to pursue strategic growth strategies that can only be achieved through access to equity capital. Therefore capital is needed and easier access to capital market financing is one of the possible solutions. But many companies in the EBRD's countries of operations (COOs) are sceptical whether a sufficiently broad local and international investor base exists to provide the required capital.

In order to get a clear picture and identify potential areas of improvement the Bank has published its first "The Investor Base of Securities Markets in the EBRD Region" https://www.ebrd.com/cs/Satellite?c=Content&cid=1395273667352&d=&pagename=EBRD%2FContent%2FDownloadDocument study (the "Investor Base Study") in March 2018 for the period ending Q2 2017 (the "Initial Study") analysing the investor base of public securities markets of all the economies where the EBRD invests. Due to the dynamic nature of international investment flows it is necessary to monitor trends and changes in the investor base on a continual basis as well as identify potential new data sources.

As reliable and detailed investor data are rarely available in emerging economies, the EBRD is now seeking to appoint a highly specialised consulting company (the "Consultant") to identify and analyse the institutional and retail investors active in the public securities markets of the EBRD's COOs and prepare two follow-up studies covering the years 2018 and 2019 (the "Follow-up Studies") of the Investor Base Study.

Assignment Description

The overall objective of the project is to identify and monitor the investor base which is active in the public securities markets of the EBRD's COOs.

The specific objective of the assignment is to produce two Follow-up Studies of "The Investor Base of Securities Markets in the EBRD Region" for the years 2018 and 2019.

In order to fulfil the objective mentioned above, the EBRD is now seeking to appoint a highly specialised consultant to carry out following activities:

  • Activity 1: Market research, data collection and analysis, preparation of two Follow-up Studies. The aim of Activity 1 is to identify, collect and analyse the investor data on country and regional level and prepare the Follow-up Studies.

  • Activity 2: Preparation, printing and public presentation of the Follow-up Study Reports

The Investor Base Studies prepared under Activity 1 will form the basis for the planned two print publications of the key findings. The Consultant has to cover the costs for proof reading, layout and printing and organisation of the public event including catering. It is planned to hold the public events on the premises of the EBRD Headquarters in London.

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