AdePlast plans to sell 16.5 million shares, or 33% of its equity capital, and hopes to attract between EUR13 million and EUR15 million. The money will be used to finance new investments.
The public offering will take place between October 2 and October 15.
It will end successfully if at least 70% of the stake targeted is sold.
The offering goes in two separate packages: large investors will be able to subscribe 85% of the shares, at prices ranging between 3.52 lei/unit (EUR0.789) and RON4.06/unit (EUR0.91), and small investors may subscribe the remaining 15%, at a price of RON4.06/share.
For orders placed in the first four days of the offering, small investors will benefit from a 3% discount of the final price on the large investor segment. Starting the fifth day of the offering, the discount will be 2% of the final price.
This will be the first IPO of a Romanian private company in more than five years.
Intercapital Invest and BCR will assist with the sale in Bucharest.
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.