Romanian Water Metres Maker Contor Group To Make Bourse Debut on Dec 12

Contor Group’s 155,063,333 shares have a face value of 0.10 lei ($0.0332/0.0257 euro) each, the BVB said in a statement late on Tuesday.

The company’s IPO, that was slightly oversubscribed, was launched on February 29 and was scheduled to close on March 13. It was suspended for one day due to an amendment to the company's prospectus that says that the audit of the group’s financial results for the 2004-2006 period carried out by PricewaterhouseCoopers was quoted without the consent of the latter.

Contor Group said earlier it aimed to raise some 11.7 million lei in the IPO to finance its expansion on foreign markets.

Contor Group’s IPO has been one of the four offerings held on the BVB so far this year. The IPOs of closed-end investment fund STK Emergent and of polyvinyl chloride (PVC) and polypropylene (PP) construction material maker Teraplast were successful, while the IPO of construction company Pomponio failed to attract sufficient investor interest.

(1 euro = 3.8961 Romanian lei)