The private placement will be brokered by BRK Financial Group (BRK.RO), the only broker listed on the Bucharest Stock Exchange, Sipex said in a statement.
Sipex ranks second on the wholesale market of materials and finishes for constructions (excluding the do-it-yourself (DIY) store chains), while also providing technical consulting and related services both for the corporate market and for the retail market.
The company is building a strategy intended for the DIY segment and distributes the brands Ceresit, Rigips, Isover, Weber, Cesarom, Swisspor, Austrotherm, Baumit, Porotherm, Tondach, Brikston, Ytong, Leier, Structo, Tenco, Sapabet, Aco, Holver, Kronospan and Romstal.
In 2021, Sipex’s net profit topped RON16 million, surging by 37% versus 2020 and by 89% versus 2019, the statement also reads.
The company’s turnover of almost RON260 million at end-2021 grew by 11% from 2020 and by nearly 36% versus 2019.
A survey by Roland Berger shows that Romania’s building materials market has increased by 9% per annum over the last years, up to almost EUR4 billion in 2019, and the impact of the Covid-19 pandemic on the sector was lower than in most fields of the economy.