Romania’s IPO market continues to grow despite a challenging global environment for stock listings and the outlooks remain upbeat, after in 2023 the market capitalization of companies listed at the Bucharest Stock Exchange has hit $44 billion, reveals an EY analysis.
Comes of Savinesti, Neamt county, a supplier of heat-transfer and pressure equipment and spare parts for chemical, petrochemical, oil and gas industries, expects to end this year with EUR21 million turnover, from EUR15.5 million in 2022, and for 2024 has budgeted a 20% increase amid a new investment.
The Board of Directors of corrugated cardboard maker Vrancart Adjud (VNC.RO) announced in a stock market report on Dec 14 that it called shareholders for a meeting on January 25, 2024 to secure approval for a share capital increase by RON31.9 million, to RON201 million from RON169.1 million, the company said.
Raiffeisen Bank, one of the largest banks in Romania by assets and with bonds listed at the Bucharest Stock Exchange, informed the local stock market in a report on Dec 14 about its shareholders' decision regarding the distribution of dividends from the retained earnings of 2022, in the amount of RON617.4 million.
Connections Consult, a group of companies specialized in providing software solutions and IT services, announced in a stock market report on Dec 14 the signing of a contract of RON10.9 million (plus VAT) with a client in the public sector.
The Ares Group, which specializes in interventional cardiology, and Brain Hospital, which specializes in neurosurgery, have bought the cardiovascular surgery hospital Monza near the National Arena stadium in Bucharest from Policlinico di Monza. The amount was not disclosed.
ROCA Agri RDF, the agricultural holding company launched by ROCA Investments, announces that Romania's central bank has authorized the functioning of AGRO IFN, a Non-Banking Financial Institution (NBFI) in its portfolio, which is intended to cater to the financing needs of the agricultural sector.
Filip & Company team assisted DIGI Spain Telecom S.L.U and RCS & RDS S.A. in relation to the conclusion of a spectrum transfer agreement from Xfera Móviles (part of MasMovil Group in Spain) for the acquisition of an important package of spectrum licenses for the private use of the radioelectric public domain related to certain sets of blocks of frequencies in the 1,800 MHz, 2,100 MHz and 3,500 MHz bands.
EY Romania assisted TMF Group, a leading provider of compliance and administrative services, in the acquisition of Contexpert, a top-tier Romanian company specialized in accounting, audit, tax, and payroll services.