With an initial value of RON70 million, the offering was conducted between September 1 and October 1 and was brokered by SSIF Broker.
Before the offering, Astra Asigurari had a share capital of RON192.7 million and was controlled by The Nova Group Investments Romania SA (72.68%) and Epsilon Estate Provider SRL (26.04%), while several individual and corporate shareholders owned a 1.3% stake.
After the operation is completed, Astra Asigurari’s share capital will be RON257.8 million, controlled by The Nova Group Investments Romania SA (72.75%) and Epsilon Estate Provider SRL (27.01%), with several individual and corporate shareholders holding a 0.23% stake.
The Nova Group Investments Romania and Epsilon Estate Provider are both controlled by businessman Dan Adamescu.
End-2013, the company ranked first on the Romanian insurance market, with underwritings of RON921.5 million and a loss of RON917.3 million.