RO medical services provider MedLife completes capital increase

Romanian private medical services provider MedLife (M), listed on the Bucharest Stock Exchange (BVB), will complete the operation of free shares distribution to its shareholders - which accompanies the capital increase operated by capitalizing its reserves, Ziarul Financiar reported.

The company's shareholders will receive five new shares for each share already held as of January 4.

MedLife is 27.14% controlled by brothers Mihail and Nicolae Marcu, the company's founders, while their mother, Mihaela Gabriela Cristescu, holds 14% of the shares.

Since the beginning of the year, the company's shares went down 5.4%, but they are up 65% in the last 12 months.

The company's market capitalization is close to EUR 290 mln, including the new shares.

On February 8, local brokerage firm Goldring issued a 'hold' recommendation for the MedLife shares, with a target price for the next 12 months of RON 11.28, 7.43% above the price at that time and 6.6% above the closing price on February 12.

"Although 2020 has been a real challenge for businesses around the world, MedLife has not only managed to continue its upward trend with positive results for investors but also the acquisition campaign to strengthen its business," reads Goldring's report.

(Photo courtesy of the company)