Thus, SIF Banat-Crisana owns a total stake of 36.6% in Biofarm, level at which it becomes compulsory for the fund to develop a public takeover offer.
SIF Banat-Crisana bought 184,690 shares at a price of RON0.2838 per unit. It had not been disclosed the seller of the stake by the time of publishing the news.
The company’s main shareholders are three of the five regional investment funds (SIFs): SIF Muntenia (SIF4.RO) with 45.8%, SIF Banat-Crisana (SIF1.RO) and SIF Moldova (SIF2.RO) with 12.2%.
Biofarm reported a first-half net profit of 15 million lei (EUR3.4 million), slightly up from RON14.7 million in the year-earlier period.
Biofarm’s sales revenue increased 15% on the year to RON70.2 million in January to June, fueling a 20% rise in the operating profit, the company said in its quarterly financial report. The total operating costs stood at RON55.5 million, from RON47.5 million in the first six months of 2014.
As a result, the operating profit was of RON18.5 million in the January-June period, compared with RON15.4 million in the same interval of 2014.
(English version by Manuela Panescu)