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Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at iulian@romania-insider.com. 

 

 

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Distressed assets specialist ROCA plans EUR 20 mln capital increase

Romanian investment fund ROCA, focusing on distressed assets, wants to turn itself into an investment fund and increase its capital by EUR 15-20 mln by selling new shares and bonds as an intermediary step before listing its shares at Bucharest Stock Exchange (BVB) in 2023. The capital increase will include the issuing of EUR 10 mln worth of convertible bonds.

"The strategy is to transform from a holding company into an investment fund. As a first step, we will register at ASF as an investment fund manager this year, and later ROCA will become an alternative investment fund. It is a stage of evolution, as an intermediate step on our way to the capital market, in 2023, on the main market," said Rudi Vizental, CEO and co-founder of ROCA Investments, Profit.ro reported.

At the end of 2020, ROCA's assets were RON 87 mln (EUR 18.3 mln), up from RON 57 mln at the end of 2019.

In early 2021, local prefabricated elements producer Prebet reached an agreement to buy 5% in ROCA for EUR 2.1 mln without shareholder's permit in a controversial deal. Nicolae Ratiu, Prebet's former chairman, accused the current head of the board, Mathe Francisc, of forcing a deal under which Prebet would pay 2.5 times the book value for the 5% stake in the investment fund, thus implying a value of under EUR 17 mln.

ROCA's shareholders include CIT Resources, Andrei Cionca, and PIF Industrial - the investment vehicle of Dedeman owners Dragos and Adrian Paval.

iulian@romania-insider.com

(Photo source: Shutterstock)

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Profile picture for user iuliane
Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at iulian@romania-insider.com. 

 

 

The Capital Markets News section is sponsored by the Bucharest Stock Exchange 

 

BSE

 

 

Distressed assets specialist ROCA plans EUR 20 mln capital increase

Romanian investment fund ROCA, focusing on distressed assets, wants to turn itself into an investment fund and increase its capital by EUR 15-20 mln by selling new shares and bonds as an intermediary step before listing its shares at Bucharest Stock Exchange (BVB) in 2023. The capital increase will include the issuing of EUR 10 mln worth of convertible bonds.

"The strategy is to transform from a holding company into an investment fund. As a first step, we will register at ASF as an investment fund manager this year, and later ROCA will become an alternative investment fund. It is a stage of evolution, as an intermediate step on our way to the capital market, in 2023, on the main market," said Rudi Vizental, CEO and co-founder of ROCA Investments, Profit.ro reported.

At the end of 2020, ROCA's assets were RON 87 mln (EUR 18.3 mln), up from RON 57 mln at the end of 2019.

In early 2021, local prefabricated elements producer Prebet reached an agreement to buy 5% in ROCA for EUR 2.1 mln without shareholder's permit in a controversial deal. Nicolae Ratiu, Prebet's former chairman, accused the current head of the board, Mathe Francisc, of forcing a deal under which Prebet would pay 2.5 times the book value for the 5% stake in the investment fund, thus implying a value of under EUR 17 mln.

ROCA's shareholders include CIT Resources, Andrei Cionca, and PIF Industrial - the investment vehicle of Dedeman owners Dragos and Adrian Paval.

iulian@romania-insider.com

(Photo source: Shutterstock)

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