By 11:00 local time (GMT0800) Tuesday, retail investors bought shares worth over 10 million lei (EUR2.2 million).
The volume of shares for which retail investors placed orders slightly exceeded the number of shares available on the segment.
AdePlast’s offering was launched on October 2 and is due for completion on October 15.
The company plans to sell 16.5 million shares and hopes to attract between 57.8 million and 66.7 million lei (EUR13 million to EUR15 million). The offer was priced at RON3.52 to RON4.06 a share.
Of the total shares offered, 15% are allocated to retail investors, while the remaining shares are reserved to institutional investors.
Retail investors benefit from a discount of 3% from the final price during the first four days of the offer. Starting with the fifth day, the discount drops to 2%.
Founded in 1996, AdePlast runs three plants in Romania, in the cities of Oradea, Ploiesti and Roman. The company produces a wide variety of construction materials, including adhesives, mortar and paints.
AdePlast reported a 29% increase in its 2012 sales to 184.4 million lei (EUR41.3 million). The company’s net profit rose to RON16.2 million, from roughly RON7 million in 2011. (EUR1=RON4.4304)