BUCHAREST (Romania), May 14 (SeeNews) – Romanian guttering systems manufacturer RAIKO Transilvania said on Tuesday it plans to list 30% of its shares on the AeRO market of the Bucharest Stock Exchange in the third quarter.
RAIKO Transilvania’s listing on the AeRO market will be preceded by a private placement offer, which will take place in June and will include new ordinary shares issued by the company, it said in a press release.
The company said it aims to raise 1 million lei ($236,088 /210,053 euro) through capital increase, with funds to be used primarily as working capital for buying production materials as well as expansion of the sales activities into new regions of Romania.
Carpathia Capital, a Polish pre-IPO fund listed on the Bucharest Stock Exchange has pledged to participate in the capital increase, making RAIKO its third investment in Romania – after previously invested in Bittnet and MedLife.
"We are excited that RAIKO’s journey with capital markets begins in Romania, on the Bucharest Stock Exchange. We have been eyeing the listing in CEE for quite some time and we are convinced that we have found local partners, such as Tradeville, to assist us in this process," RAIKO Transilvania board chairman Tomasz Kurcin said.
Once listed, RAIKO will be the second company with majority Polish capital to float on the Bucharest Stock Exchange, after Polish fund Carpathia Capital listed on AeRO market in 2015.
Romanian company with Polish capital RAIKO Transilvania was established in 2014 in Capusu Mare, Cluj county, by Tomasz Kurcin, who is also the majority shareholder.
The company specializes in production and sale of guttering systems, roofs as well as roofing accessories and works with both individual and business clients.
(1 euro=4.7607 lei)