The Bucharest Stock Exchange (BVB) announced on Friday that INOX a Romanian producers of stainless steel products listed its first bond issue worth EUR 1mln on BVB under the stock ticker INOX24E.
“The funds attracted from investors will be used for the purchase of new equipment and restoration of existing facilities, implicitly the development of the company’s new field of activity, medical devices production: surgical masks and filter material,” said BVB, according to a press release.
INOX sold 10,000 non-convertible and unsecured corporate bonds in a private placement in early September 2021 to 38 investors. The bonds have a nominal value of EUR 100, with a maturity date in September 8, 2024, and a coupon of 8% p.a., payable on a quarterly basis.
The private placement and the bonds listing were carried out with BRK Financial Group’s support. INOX shares have been listed on BVB since February 22, 1997.
In 2020, the company opened a new production line of surgical masks and filter material, and by the end of 2020 this new field of activity had reached 24% of the total turnover. The company registered a turnover of RON 12.4mln in 2021, with an increase of 37% compared to 2020 (RON 9mln).