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Sphera Franchise Group raises 285 mln lei (62 mln euro) in IPO on Bucharest bourse

Wednesday, November 8, 2017

Romania's Sphera Franchise Group raised 285 million lei ($72 million/62 million euro) through an initial public offering (IPO) of a 25% stake on the Bucharest Stock Exchange (BVB) and is expected to start trading next week, the bourse said on Friday, quoed by seenews.com. Transilvania Broker launched the IPO on the BVB on October 24, hoping to raise up to 324.4 million lei through the sale of 9.8 million shares. The final ...

P3 delivers warehouse in Bucharest to client

Wednesday, November 8, 2017

Pan-European logistics property investor-developer P3 said on Thursday it handed over to a client the first of three warehouses it had planned to build by the end of this year, seenews.com informs. P3 handed over a 13,900 sq m logistics facility to European integrated transport and logistics services provider E van Wijk, it said in a press release. "The building is part of our ambitious expansion programme in Romania. Two more ...

Dedeman reaches 5.769 pct stake of Electrica shares

Wednesday, November 8, 2017

Dedeman purchased 0.93 pct of Electrica shares, thus reaching to a 5.769 pct stake; the transaction was carried out on the secondary market, a release on the Bucharest Stock Exchange (BVB)'s website informs. Bacau-based DIY retailer Dedeman, a property of Dragos and Adrian Paval, previously owned over 16.7 million Electrica shares, and now its portfolio counts for 19.9 million shares. An Electrica share was worth on Wednesday noon RON 12.86, down by 0.46 pct ...

TeraSteel factory in Serbia to double output in Nov, Dec

Wednesday, November 8, 2017

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TeraSteel sandwich panels factory in Serbia recently opened by Romanian plastic products manufacturer Teraplast Group [BSE:TRP] will double its output in November and December, the group said on Wednesday, seenews.com reports. Teraplast's plans of doubling production in the last two months of the year are backed by the addition of specialized production personnel and auxiliary staff, the company said in a press release. The ...

Certent Opens New Office in Bucharest

Wednesday, November 8, 2017

 Certent, Inc., a leading provider of software-as-a-service (SaaS) solutions for equity compensation and financial disclosure management today announced the opening of a new office in Bucharest, Romania, newswire.ca ...

ANALYST: 90% of the active companies of Romania will be affected by the 1% tax and 112,000 workplaces will be lost

Wednesday, November 1, 2017

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90% of the active companies of Romania will be affected  by the 1% tax of the turnover, measure bringing a reduction of the taxes paid of 631 million lei and the loss of 112,153 work places, says Iancu Guda, the chairman of the Association of the Financial-Banking Analysts of Romania. ‘The single quota of 1% applied to the turnover for companies with income under 1 million euro can lead to a reduction of the taxes paid by these companies of ...

Clariant to build cellulosic ethanol plant in Romania in 2018

Wednesday, November 1, 2017

Switzerland-based specialty chemicals company Clariant said on Tuesday it will start the construction of a cellulosic ethanol plant in Romania in 2018, seenews.com informs. The new plant will be located in southwestern Romania and will have a production capacity of 50,000 tonnes of cellulosic ethanol, Clariant said in statement filled to the NASDAQ bourse. The size of the investment was not disclosed. The ethanol will be obtained from agricultural ...

AFI Palace Cotroceni to have a new owner

Wednesday, November 1, 2017

After nearly a year of the start of negotiations to save Africa Israel Investments, the creditors seem to have reached an agreement with L.A.-based Israeli brothers Naty and Ofer Saidoff, sources say, capital.ro informs quoted by romaniajournal.ro. Africa Israel Investments, which owns AFI Properties, the majority shareholder of AFI Europe, present on the Romanian market, will have a new owner. The most important asset of AFI ...

Teraplast 9-mo net profit halves

Wednesday, November 1, 2017

Romanian plastic products manufacturer Teraplast Group [BSE:TRP] said on Monday its net profit more than halved to 15.9 million lei ($4 million/3.5 million euro) in the first nine months of 2017, compared to 30.3 million lei in the year-ago period, seenews.com informs. The consolidated operating result for the first three quarters of 2017 was 19 million lei, down from 36.3 million lei in the like period of 2016, the company said in its third quarter ...

Dona pharmacy chain in Romania borrows EUR 10 mln from EBRD

Wednesday, November 1, 2017

Calihory Group, which controls the Dona pharmacy chain, will borrow EUR 10 million from the European Bank for Reconstruction and Development (EBRD) to expand and modernize the Dona pharmacies and build a new warehouse, reports ...

Mercury Research: Vola.ro most trusted Romanian online tourism agency

Wednesday, November 1, 2017

According to a survey by Mercury Research, Vola.ro is the most trusted Romanian online tourism agency, business-review.eu informs. Other companies surveyed are Avion.ro. eSky.ro, Fly-Go, Paravion, Tripsta and Vola.ro. According to the survey, 33 percent of those who used Vola.ro services said they trusted the brand, followed by Avion.ro, with 22 percent and eSky.ro, which recorded 21 percent. When it comes to customer ...

Medicover and Synevo’s total revenues in Romania up by 19.3 pct in first nine months

Wednesday, November 1, 2017

Medicover Group (represented by Medicover Romania and Synevo Romania) achieved an increase in revenue year-on-year of 19.3 percent, to EUR 55 million, informs. At general level, Medicover registered a consolidated revenue increase year-on-year of over 17 percent in the first nine months of 2017, to EUR 427.5 million. “The third quarter saw Medicover Romania continue to deliver on our plans for growth. The acquisition of ...

Bucharest Airports recorded 808.62 million lei in total revenues January through September 2017

Wednesday, November 1, 2017

Bucharest Airports National Company (CNAB) recorded 808.62 million lei in total revenues January through September this year, surging up 20.1 per cent from the same period last year, reads a CNAB release on Monday. The positive result was mainly due to the increase recorded in the passenger flow, but also to the improvements in the airport activity implemented starting with the second semester of the year: streamlining the passenger flow in both arrivals and ...

Head of small businesses' umbrella organisation says 1 pct microenterprise tax neutral till impact is assesed

Wednesday, November 1, 2017

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The measure to tax microenterprises 1 percent of turnover is neutral for the time being, because one doesn't yet know on how many companies this will have a positive impact and on how many a negative one, president of the National Council of Small and Medium-sized Private Enterprises (CNIPMMR) Florin Jianu told a press conference on Monday. He added that the next survey to be carried out by CNIPMMR will focus on two elements: the levy of a 1 percent ...

Heineken denies rumors about selling some operations in Romania

Wednesday, November 1, 2017

Dutch beer producer Heineken denied the information in an article published by Világgazdaság Hungarian daily about negotiating with Lixid Project in Sansimion, Romania, to take over its operations base in Martfu (southeast Hungary),Budapest Business ...

Alka Group to invest over EUR 11.5 M in a new production unit in Ploiesti

Wednesday, November 1, 2017

Alka Group, one of the leading FMCG players in the region, is investing over EUR 11.5 million in building a new production capacity for biscuits and salted snacks, in Ploiesti, a press release informs quoted by romaniajournal.ro. This will be a full chain investment, from taking over the main raw material to the direct sale to consumers ”We decided to open a new production capacity, in addition to the one we already have ...

Orange Romania wins new customers on TV and fixed internet in Q3

Wednesday, November 1, 2017

For the July – September period, Orange Romania recorded a turnover of EUR 277.2 million, up 10.4 percent over the same period last year, according to the financial Q3 report of French telecom group, a press release informs, romaniajournal.ro reads The growth was mainly driven by the positive developments in mobile data usage and the consolidation of customer number. On 30 September 2017, Orange Romania offered mobile and fixed services to ...

The road ahead: Romanian companies need to make swift and sustained steps to catch up with worldwide leaders on corporate responsibility reporting

Wednesday, November 1, 2017

Almost three quarters (72 percent) of large and mid-cap companies worldwide do not acknowledge the financial risks of climate change in their annual financial reports, according to the KPMG Survey of Corporate Responsibility Reporting 2017 published last week. Of the minority that do acknowledge climate-related risk, less than one in 20 (4 percent) provides investors with analysis of the potential business value at ...

Litens Automotive opens factory in Western Romania

Wednesday, November 1, 2017

Canadian group Litens Automotive Group, which provides technical solutions for the car industry, opened yesterday its second factory in Europe, in the village of Giarmata, Timis county, romania-insider.com reads. The factory, which covers 7,500 sqm, will initially have 30 employees. Their number will grow to about 250 by 2019. The Timis factory will take over new original equipment ...

Bucharest hosts almost a quarter of all companies in Romania

Wednesday, November 1, 2017

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Over 125,000 local firms have their headquarters in Bucharest. This represents 23.4% of all companies active in Romania, according to data collected by the Bucharest Chamber of Trade and Industry (CCIB), reports ...

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