At the time of the transfer, Chimcomplex Borzesti was the largest company listed on the AeRO market, with a market capitalization of almost RON8 billion (EUR1.6 billion).
Chimcomplex is the main producer and supplier of vital chemicals in the region, being a strategic company for the Romanian economy. It was established in 1954 in the locality of Borzesti, Onesti. Chimcomplex currently manages the largest chemical plant, with two industrial platforms in Onesti and Ramnicu Valcea.
“We are honored by the presence on the stock exchange of a issuer as Chimcomplex Borzesti, which as of today continues its path on the capital market as a company listed on the main segment. Chimcomplex is an example of transformation and adaptation to the market economy and we look with interest at the future prospects of the company. The presence on the Regulated Market opens new horizons, and the increase in free-float may lead to a higher interest of local and international investors and, at the same time, may include the inclusion of Chimcomplex shares in FTSE Russell indices, which will strengthen the emerging market status of the Stock Exchange. I wish them success and I hope that other issuers will be inspired by the Chimcomplex model, both in terms of the company’s evolution and in terms of progress on the capital market”, said Adrian Tanase, Bucharest Stock Exchange CEO.
“Chimcomplex is a national company, with Romanian shareholding majority and with a clear objective to attract many other Romanian investors. A well-positioned company to offer strategic value to its potential shareholders, because it capitalizes on market trends and will put Romania on the global green map thanks to the projects it is considering. The company has exponential growth potential because we have 4 aces up our sleeve: we give value to natural resources, we have the know-how, we have a market and now we also have the money”, said Stefan Vuza, Chimcomplex Borzesti Chairman.
The company’s shares closed the last trading session on the AeRO market under the symbol CHOB, on January 12, at the price of RON26.2 per share. On the first day on the Main Market, the company’s shares, available under the new CRC stock ticker, started trading with the closing price of the CHOB symbol from January 12.
“Trading on the Main Market and ringing the bell are benchmarks for Chimcomplex. However, we remain focused on everyday tasks. Over the “past six months, we’ve delivered essential products to 54 countries on 5 continents for about 600 customers. The investments of over EUR 245mn carried out by Chimcomplex in recent years have created the premises for efficient and sustainable development. Projects of over EUR 55mn are currently in the final execution phase and projects of over EUR 125mn are in preparation and start execution. Today we allow a few hours to celebrate, but then we turn to chemistry, engineering, design, and delivery for our growing client portfolio. I congratulate our team for this notable stage and thank you all for your dedication and involvement. Together, we manufacture products that almost no one else makes anymore, at least in the region, for some of the most advanced companies and industries in the world and we know that we have just scratched the surface of our potential. We got here because we trust in what we do and we know how to do it well”, said Victor Avram, Chimcomplex Borzesti CEO.
Chimcomplex Borzesti is the second company to move from the AeRO market to the Main Market, Standard Tier, after Bittnet Systems in June 2020. The transfer of Chimcomplex Borzesti shares on the Main Market was carried out with the support of Estinvest.
In 2020, Chimcomplex had a turnover of RON1.2 billion, and in the first nine months of 2021, it reported a turnover of RON1.7 billion. Chimcomplex Borzesti is owned by CRC Alchemy Holding, with 85% of the shares, and by the Romanian State, with 8.9%. The remaining share capital, of about 5%, is owned by legal and retail investors persons.