September 8 (SeeNews) - Romanian engineering company Adiss started trading on the alternative market of the Bucharest Stock Exchange, the bourse said on Wednesday.
The company's shares are traded under the ADISS ticker on the AeRO market, the bourse said in a press release.
The listing comes after a private placement in June, through which Adiss raised 6.36 million lei ($1.5 million/ 1.3 million euro). The company sold 4.24 million new shares, with a nominal value of 1.5 lei each.
The funds raised from the capital market will support the company's development by creating divisions geared towards new technologies to improve water quality, as well as for the online sale of products. The financing will also be used to strengthen the company's position and expansion in the water treatment market, as well as for investments aiming at complete digitization of the company.
"We value the investors’ confidence in Adiss and we wish to become the bridge whereby they can invest in this industry, as we believe that water management has already become a critical skill in the 21st century. Adiss mission is to contribute to the sustainable future of the Romanian communities by solving the challenges in the water field," Adiss majority shareholder Cristian Rat said.
Adiss produces compact stations and water treatment equipment and offers design, development, project management, consulting and maintenance solutions, under the concept of 'end-to-end solutions'.
The company booked a net profit of 657,000 lei in 2020, up 65% on the year, on a turnover of 40.4 million lei, up by an annual 84.65%. At the end of 2020, the company had 70 employees.
The company expects to reach a turnover of 52.6 million lei in 2021.
(1 euro=4.9479 lei)