Romanian cable producer prepares secondary listing in London
Romanian cable producer Romcab Targu-Mures plans to increase its turnover by a quarter this year to over RON 1 billion (EUR 240 million).
Based on the company’s evolution in the last years, the main shareholder Zoltan Prosszer has announced that he was considering listing the firm on the London Stock Exchange, reports local Ziarul Financiar.
He is unhappy with Romcab’s value on the Bucharest Stock Exchange. The company has a market capitalization of EUR 16.8 million, which is only two times its net profit.
The company has budgeted a net profit of EUR 8 million this year, close to the 2015 level. Romcab multiplied its profit 2.3 times last year compared to 2014. However, its shares only increased by 12% in the past 12 months.
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