Romania’s Brikston goes public, eyes 391.4 mln lei (79.104 mln euro) capitalisation

2022-04-02 07:27:58 By : Ms. Snow Fang

Foreign tourist arrivals to Bosnia's Federation more than double y/y in Feb

Bosnia's Federation net electricity output down 29% y/y in Feb

Bosnia's Federation retail sales up real 12.9% y/y in Feb

Bosnia's Federation industrial sales rise 43% y/y in Feb

Bosnia's net electricity output down 18.6% y/y in Jan

BUCHAREST (Romania), March 29 (SeeNews) - Romanian building material manufacturer Brikston Construction Solutions returned to the Bucharest Stock Exchange (BVB) after a seven year hiatus, expecting to achieve a market capitalisation of 391.4 million lei ($87.666 million/79.104 million euro), the bourse said on Monday.

“Brikston returns to the Stock Exchange after a long period of internal consolidation. The opening will contribute to the maturity of the company’s management, will facilitate rapid expansion by use of the capital market and, last but not least, will improve visibility,” said Thomas Ebner, Brikston CEO, as quoted in a BVB statement.

Brikston’s total share capital of 16,022,482 lei is split between 160,244,827 shares with a par value of 0.1 leu each. A total 97,93% are owned by Leier Rom, a subsidiary of Austrian construction group Leier.

No Brikston shares had changed hands on the BVB Multilateral Trading System, the AeRO market, by 16:30 local time.

The public offering comes in the wake of a 121% increase in the company’s revenue to 259.1 million lei in 202, the BVB statement also said. Brikston’s EBIT rose to 73.2 million lei last year, a 78% increase over 2020.

Brikston Construction Solutions is one of the largest manufacturers of bricks and ceramic blocks, as well as the only manufacturer of ceramic shingles in Romania. Most of Brikston’s products are sold on the domestic market, with exports totalling to 4.19% of its value.

The company traded publicly from 1997 to 2015. Brikston was acquired by Leier in December 2018.

SeeNews is your complete guide to the emerging economies of Southeast Europe. Latest news, market intelligence, industry analyses, on-demand research – the big picture at the tip of your fingers.

Get ahead of the competition with SeeNews Premium Access. Unlimited news and objective analysis you can trust, company data and more. Subscribe now and start making agile business decisions.