Romania Insider
RO steel company prepares EUR 30 mln bonds issue and IPO

Proinvest Paşcani, a company specialized in steel processing, owned by Romanian entrepreneur Vasile Sandu, is preparing to issue bonds worth RON 141 million (EUR 30 mln) and list them on the Bucharest Stock Exchange to finance a EUR 100 mln investment program.

Vasile Sandu told Ziarul Financiar that he is also considering selling a 25% stake in the company through an initial public offering (IPO).

"Given the macroeconomic environment in which we operate as well as the specific sector, the solution of issuing bonds and selling a minority share on the Bucharest Stock Exchange is the most appropriate financing strategy for Proinvest Group,” Sandu said.

He added that both operations are scheduled to take place in 2023.

The company is currently in talks with the partners that will assist it in this process.

Proinvest posted EUR 29.7 mln (+28% year-on-year) turnover and EUR 1.15 mln (+49% year-on-year) net profit in 2018.

(Photo: Pixabay)

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Romania Insider
RO steel company prepares EUR 30 mln bonds issue and IPO

Proinvest Paşcani, a company specialized in steel processing, owned by Romanian entrepreneur Vasile Sandu, is preparing to issue bonds worth RON 141 million (EUR 30 mln) and list them on the Bucharest Stock Exchange to finance a EUR 100 mln investment program.

Vasile Sandu told Ziarul Financiar that he is also considering selling a 25% stake in the company through an initial public offering (IPO).

"Given the macroeconomic environment in which we operate as well as the specific sector, the solution of issuing bonds and selling a minority share on the Bucharest Stock Exchange is the most appropriate financing strategy for Proinvest Group,” Sandu said.

He added that both operations are scheduled to take place in 2023.

The company is currently in talks with the partners that will assist it in this process.

Proinvest posted EUR 29.7 mln (+28% year-on-year) turnover and EUR 1.15 mln (+49% year-on-year) net profit in 2018.

(Photo: Pixabay)

[email protected]

Normal

For a decade, Romania Insider has been your platform of choice for reliable information on all things Romania. We have always been proud of our ability to bring you bias-free reporting but this hasn't always been easy. We have been thinking about making some changes and can't imagine doing this without your feedback.
For this, we would appreciate it very much if we could borrow 2 minutes of your day to fill out this survey. 
Thank you for reading Romania Insider!  

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