The proposal is subject to shareholder approval at a meeting due April 29, Prospectiuni said in a stock exchange filling.

Prospectiuni is 55.7%-owned by local businessman Ovidiu Tender, while regional investment fund SIF Muntenia holds an 11.82% stake.

The company reported a 20.5% increase in its 2013 revenue to 415.4 million lei (EUR94.2 million), from about RON345 million a year earlier.

Thursday, Prospectiuni’s shares closed up 0.96% at RON0.1479 in Bucharest.