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Condmag shares will move from RASDAQ (COMI) to BSE Tier 2 as of July 17th. Condmag initially requested to be listed on Tier 1, but the BSE management preferred a gradual transition, with Tier 2 as an intermediate step. The company has a share capital of 17.27 million RON divided into shares with a face value of 0.1 RON.
The company builds oil and gas pipes and has been listed on RASDAQ since 1996. The leading shareholders are Dafora - Medias (43.66%), OGBBA Van Herk (10.61%) and Julius Baer Investment Management LLC (10%). Estimates for this year indicate a 100% turnover boost to 140 million RON and a doubled profit compared to last year. The company concluded last year with 104.48 million RON in turnover and 3.59 million RON in net profit.
Among the leading customers are SNGN Romgaz - Medias (37.20% of last year"s turnover), SNTGN Transgaz - Medias (26.28%) and Distrigaz Bucuresti (8.18%). The list also includes E-ON Gaz Romania, Petrom, Rompetrol and local authorities.
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