Out of the RON160 million, RON150 million account for short-term financing that will go towards the purchase of raw materials and semi-products, RON7.25 million account for an extension of a line of credit for another 12 months to cover working capital needs and RON3 million account for an extension of a reverse factoring loan for 12 months, Argus said.
Argus has a market capitalization of RON88 million. Its shares have lost 29% on transactions of RON5.2 milion in 2023. It posted RON84 million revenue and RON2.8 million net profit in the first quarter.
(English version by Loredana Fratila-Cristescu)