Alser plans to offer shares at discount price to holders of ALS24E bonds. The funds attracted following the issue of shares will be used for the consolidation of the company’s foothold at the level of sector in the field of forestry industry in Romania.
Intercapital Invest, a consultant authorized by the Bucharest Stock Exchange, assisted Alser in the process of transformation and alignment to corporate governance standards specific to issuers, of attracting funds and listing of bonds on the stock market. The development process via the capital market will continue alongside Alser Forest (the issuer) which will be assisted in the process of listing its shares on the AeRO market of the Bucharest Stock Exchange in 2021.
In June 2021, Alser Forest listed its EUR1.5 million corporate bonds on the Bucharest Stock Exchange, under the ticker symbol ALS24E.
Alser Forest said in its financial report that its revenues doubled on the year to RON14.2 million in the first half of 2021, and its net profit skyrocketed by 299% on the year to RON1.16 million. For end-2021, the company targets a turnover of nearly RON30 million.
Romania’s forestry sector is a strategic sector of utmost importance which controls almost 30% of Romania’s surface area and contributes as much as 3.5% to the GDP annually.