The decision comes just one day after SIF Oltenia (SIF5.RO) received the approval of the Financial Supervision Authority (ASF) to change its name to Infinity Capital Investments, following a decision of SIF Oltenia’s shareholders made in April 2023.
Previously, SIF Banat-Crisana had became Lion Capital (LION.RO), SIF Moldova had changed its name to Evergent Investments (EVER.RO), and SIF Transilvania had changed its mame to Transilvania Investments Alliance (TRANSI.RO).
Thus, SIF Muntenia is the fifth and last financial investment company on the local market to undergo a rebranding process.
On Wednesday (June 21), SIF Muntenia shareholders approved the decrease in the company’s subscribed share capital from RON78.5 million to RON76.1 million, by cancelling 23.5 million own shares acquired by the company following a public offering for the repurchase of own shares, which was carried out in July 2022. The new capital will be divided into 761.1 million nominative shares with a value of RON0.1 each.
SIF4 shares have gained 8.8% so far in 2023 and lost 2.6% in the last 12 months, amid deals worth RON4 million, respectively RON73.2 million.
SIF Muntenia has a market value of RON1 billion and is 18%-owned by Lion Capital. In the first quarter of 2023, the company reported a net profit of RON21.4 million, as compared to a loss of RON53.7 million in the year-earlier period. Its assets reached RON1.9 billion in March 31, 2023, minus 0.8% versus end-2022, as per stock market data.