The Bucharest Stock Exchange (BVB) announced that Romanian chemical producer Chimcomplex Borzesti started trading on the main market of BVB on Monday under the stock ticker CRC, after moving from the alternative trading segment AeRO where it was the largest company.
„The presence on the regulated market opens new horizons, and the increase in free-float may lead to a higher interest of local and international investors and, at the same time, may include the inclusion of Chimcomplex shares in FTSE Russell indices, which will strengthen the emerging market status of the Stock Exchange,” said Adrian Tanase, Bucharest Stock Exchange CEO, according to a press release.
Chimcomplex Borzesti has a market capitalisation of almost RON 8bln (€1.6bln) and is the second company to move from the AeRO market to the main market, Standard Tier, after IT company Bittnet Systems in June 2020.
„Over the past six months, we’ve delivered essential products to 54 countries on five continents for about 600 customers. The investments of over 245mln euro carried out by Chimcomplex in recent years have created the premises for efficient and sustainable development,” said Victor Avram, Chimcomplex Borzesti CEO.
Projects of over €55mln are currently in the final execution phase and projects of over €125mln are in preparation and start execution,” Chimcomplex Borzesti CEO Victor Avram said.
Chimcomplex was established in 1954 in Borzesti, Onesti and has posted a turnover of RON 1.7bln in the first nine months of 2021.
The company is owned by CRC Alchemy Holding, with 85% of the shares, and by the Romanian State, through the Authority for the Administration of State Assets, with 8.9%. The rest of the share capital, of about 5%, is owned by legal and retail investors persons.