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The Bucharest Stock Exchange (BSE) Board convened yesterday and postponed making a decision on the transfer of Condmag SA - Brasov shares from RASDAQ to BSE Tier 1 pending consultations with the Condmag management. According to BSE Board Member Petru Prunea, BSE"s Listing Commission approved Condmag"s listing, but on Tier 2. In turn, Condmag CEO Liviu Tataru told NewsIn that the listing on Tier 2 was temporary and that the company would move to Tier 1 in about six months.
Tataru believes this year is going to be a very good year for the company, considering recently secured contracts. He estimates an annual turnover of 140,000,000 RON and a 100% year-on-year increase in profit. The company is currently listed on RASDAQ and has a share capital of 17.29 million RON divided into 173 million shares.
The leading shareholder is Dafora - Medias with 43.66%, followed by OGGBA Van Herk BV with 10.61%, Julius Baer International Equity Fund (9.62%) and MEI Roemenie en Bulgarje NV with 7.76%. Last year"s net profit was 3.59 million RON, whereas this year"s gross profit estimate is 10.4 million RON.
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