The offer consists of a little over 1 million SNO shares, with a nominal value of RON2.5 per unit, at a purchase price of RON5.1, which translates into a total value of RON5.1 million. The offer will be carried out between February 1 and 14, 2024 through BT Capital Partners.
At end-2023, Transilvania Investments Alliance and Infinity Capital Investments had sold their ownership stakes of 49.99% and 28.02%, respectively, to Sea Container Services and SIF Muntenia, which reached holdings of 49.99% and 41.2%, respectively, of the share capital. SIF Muntenia previously held an ownership stake of 13.2%.
Sea Container Services SA is 50%-owned by Stone Group SRL, while Marius Fainarea and Lenuta Pilca each hold a 25% stake. In turn, Stone Group is equally owned (50%) by Codruta Dana Bogatu and Iulian Teseleanu.
Sea Container Services had a turnover of RON101.8 million in 2022, up 190% from 2021, and a net profit of RON26.8 million, 711% higher on the year. The company has been operating for 23 years, since July 2000.
Santierul Naval Orsova has a market capitalization of RON65.7 million. SNO shares have gained 3.7% so far in 2024, amid deals worth RON351,000, as per stock market data.
The company ended the first nine months of 2023 with RON82 million revenue, almost double the RON44 million in the year-ago period, switching from a RON2.3 million loss to a RON4 million profit.