The buyout targets 8.69 million shares at RON0.41/share.
In February-March this year, Boromir IND ran a public offering to take over 13.2 million shares, or 5.6% of Boromir Prod’s capital, from minority holders but managed to buy only 4.5 million shares, reaching a stake of 96.2%.
The offering was brokered by SSIF SWISS CAPITAL.
Boromir Prod shares grew 14.8% Friday morning on the Bucharest Stock Exchange, to 0.35/share. Company shares will be suspended from trading on August 1 in view of the buyout.
The company had revenues of RON81.58 million last year, up 24%, and its net profit doubled to RON5.4 million. The company’s debt also grew last year, to a total of RON24.3 million from RON21.8 million in 2016.