• Sibex group sees 1.3 million Euros profit
By autumn 2010, the Sibiu Derivatives Exchange plans to raise around 5 million Euros from its shareholders in order to raise the share capital for an Initial Public Offer, even though it has decided to launch its own stock exchange on January 22nd.
Teodor Ancuţa, the chairman of Sibex said the following: "We want to make an IPO in autumn, after a share capital increase which will be submitted to the decision of shareholders in a subsequent Board Meeting. We have an amount of around 5 million Euros in mind. Right now, we don"t need money".
The Sibiu Derivatives Exchange announced than on January 22nd it would launch its own spot market, which was made possible by the launch in December 2009 of the new GlobalVision platform.
After the listing of the Sibiu Exchange, "Adeplast" is scheduled to be listed on the new Sibiu Stock Exchange and on the Warsaw stock Exchange, at the end of February- early March, this year. Also on January 22nd, Sibex will launch derivatives based on the Dow Jones index. However, the launch of CO2 certificates transactions which was initially scheduled for January 22nd as well, was postponed, due to the fact that Romania withholds VAT on this kind of transactions.
Mr. Ancuţa said: "The platform is working very well, we"ve had no complaints. Officially, it is scheduled to be launched on January 22nd, right now we are in the testing period, and we decided to do that to give our brokers time to get used to the platform. We want to have a new IPO each month of 2010".
In 2009, the Sibex group posted a profit of 1.3 million Euros.
"We want to have an IPO in autumn, after a share capital increase, which will be submitted to our shareholders for approval in one of the future General Assemblies ", said Teodor Ancuţa, the chairman of Sibex.