The shares were sold at RON0.5885 per unit, up nearly 15% on the day, close to the maximum allowed price variation on the bourse.
At this share price, the company has a market value of RON16.8 million (EUR4 million).
Shareholders include businessman Catalin Chelu, with a 37% stake held through multiple firms, businessman Tudor Dumitru with a 10.7% stake and Simon Cati Constanda, with 7.6%.
Electroarges has a share capital of RON2.8 million, divided into 28.6 million shares with a face value of RON0.1.
The company posted sales of RON64 million in the first half of the year, up 24% on the same interval of 2010. Net profit stood at RON4.3 million, up 21% on the year. (EUR1=RON4.2306)