Exonia Holding, a group which owns biodegradable paper packaging maker by the same name, is considering a private placement early this fall, followed by listing on the capital market under the symbol EXO, chief executive officer Tiberiu Stoian says.
“We have a time frame for the IPO in October. We have this option of a placement, but at the same time relatively many proposals for direct investment, via M&A deals of 7% to 15% to 25% stakes,” Tiberiu Stoian told ZF.
“Considering we intend to have a free float of only 25%, we may conclude M&A operations first and do a technical listing to ensure liquidity. However, we would prefer investors to subscribe for at least three years and then we will do an IPO directly on the regulated market of the Bucharest Stock Exchange.”
(English version by Loredana Fratila-Cristescu)