The capital infusion is supported by Altex Romania with 11.05%, Altex Service Center with 7.61% and Despec International with 4.51%. The other shareholders remain Altex Holding – 37.39% and Real Estate – 39.43%.
Following the operation, the share capital of Cometex increases by RON7.3 million, from RON24.5 million to RON31.9 million, by issuing new shares in favor of the new associates, and the payment of a first issuance premium reaches RON118.4 million, resulting in a total investment of RON125.8 million, as per data released by Altex Romania officials on Tuesday (APRIL 11).
They also said that the financing is based on Altex’s long-term strategy to optimize operating costs and to develop new store formats with extended retail areas, from 1,000 to 1,500 square meters currently to retail areas of 2,500 to 3,000 sqm.
Altex officials pointed out that all newly built stores through the partner company Cometex would be standardized and will include solar panels, led light bulbs, digital displays and electric vehicle charging stations.
COMETEX portfolio currently comprises eight retail parks in Giurgiu, Slatina, Satu Mare, Deva, Husi, Brasov, Turnu Magurele and Dej, and 20 “stand-alone” Altex and Media Galaxy units within Bucharest’s Orhideea shopping center, IrisTitan Bucuresti, Arad, Bistrita, Braila, Craiova, Galati, Piatra Neamt, Ploiesti, Suceava, Timisoara, Lugoj, Chiajna, Resița, Baia Mare, Medias, Turda, Campina and Caransebes.
Altex had a turnover of RON5.88 billion (EUR1.2 billion) in 2021, up 16% from 2020, a level also reached in 2022.
Altex currently has more than 120 stores in Romania.