Polish investor lists rainwater systems manufacturer on Bucharest Stock Exchange

Raiko Transilvania, a local manufacturer of rainwater systems founded by Polish investor Tomasz Kurcin, made its debut on the Bucharest Stock Exchange's AeRO market on Thursday, April 8.

”We are thrilled to be finally listed on Bucharest Stock Exchange and to be the first Polish entrepreneurial business that chose the Romanian capital market route. I would like to thank all the investors who believed in our story and who have thus far invested in RKOT shares. We believe that the AeRO market offers an unparalleled advantage that will help us develop our European business at an accelerated pace,” said Tomasz Kurcin, Founder and Sole Administrator, Raiko Transilvania.

The RKOT shares started trading at RON 2.7 and quickly climbed to RON 5 per share, where they stabilized after the first hour of trading. At this price, the company's market capitalization is RON 20.6 mln (EUR 4.1 mln). According to data included in the listing memorandum, Raiko Transilvania recorded a turnover of RON 4.66 mln and a net profit of RON 0,22 mln in 2019. Tomasz Kurcin, together with his wife, owns 53.25% of Raiko Transilvania shares.

The investors who bought shares in the two private placements carried out by the company (in July 2019 and February 2020) multiplied their investment almost fivefold. The private placement price was RON 1.05 per share, and the company raised almost RON 1.9 mln in the two transactions.

TradeVille managed both private placements and the company's admission to trading on the AeRO market as an authorized consultant. TradeVille will continue to assist Raiko Transilvania for the next 12 months after listing to meet investor reporting and information requirements.

Raiko Transilvania's development plans include increasing the market share on the local market for rainwater systems, which stood at around 3.25% in 2019. The company aims to take over part of the distribution network of the Estonian group Ruuki, which exited the market, and increase its market share to 10%.

In 2021, the company targets a turnover of RON 10.3 mln and a net profit of RON 414,000.

(Photo source: BVB)