Vamvakas didn’t say when the secondary offering would take place, or how many shares the company plans to sell.
Founded in 1966, Stirom was purchased in 2003 by Greece’s Yioula Glassworks. The Greek company, through its Cyprus-based unit MGL Mediterranean Glass, owns 93.4% in Stirom.
The glassware maker reported a net profit of 19.4 million lei (EUR4.6 million) in 2011, slightly higher on the year. Sales rose 7% to RON207.5 million (EUR49 million).
As of Tuesday, Stirom’s shares are traded on the second tier of the Bucharest bourse. Previously, Stirom was traded on Rasdaq market.
Stirom shares closed 7.14% higher on the day at RON6, amid a rising market. (EUR1=RON4.4452)