Razvan Pasol, President at Intercapital Invest, the company assisting the offering, together with BCR, also stresses the importance of AdePlast's IPO: 'The AdepLast's initial public offering is one of the most important stock events in the last years. Through AdePlast's listing we show that powerful Romanian companies are able to finance their development through the capital market as well.(...) He hope that other successful Romanian contractors will follow AdePlast.'
Being launched on October 2, it will be open until October 15, the company planning to sell 16.5 million shares priced at RON3.52 to RON4.06 in order to possibly attract up to RON66.7 million (about EUR15 million).
Upon completing the IPO, Adeplast intends to allow its shares be traded on the BVB's regulated market, the offering being also followed by a plan focusing on stabilizing their price.
Of the total share offered, approximately 2.5 million are allocated to retail investors, while the remaining shares are reserved to institutional investors. Retailers have already subscribed 17% of the shares available in the segment in the first day as per the data showed by Bucharest Stock Exchange, thus benefiting from the 3% discount from the final price that is applied during the first four days of the IPO. There's also a discount applicable from the fifth days on, however, but of only 2%.
The IPO is also an invitation for investors seeking performance in the local market: 'Our message towards investors is for them to come next to a 100% Romanian company in its ambitious development process. We keep investing in technology on the three industrial plants so that AdePlast becomes a regional brand. We consider AdePlast shares buying is not just a simple investment, but a winners' label all those who want support real performance in Romanian industry have.' said Mircea Barbut, President at AdePlast according to a press release.
Founded in 1996, AdePlast has three plants in Romania, in Oradea, Ploiesti and Roman, the company producing a wide variety of construction materials, including adhesives, mortar and paints.
AdePlast reported a 29% increase in its 2012 sales to EUR41.3 million while the company’s net profit more than doubled compared to 2011, reaching almost EUR4 million.