IBB Holding to sell bonds on Bucharest Stock Exchange

Business Forum

18 September, 2024 at 9:12 AM

Romanian construction group IBB Holding will issue euro-denominated bonds and list them on the Bucharest Stock Exchange, following a decision of its shareholders.

The bond issuance will have a maximum value of €10 million, with a maximum maturity of 60 months.

The proceeds from the sale will be used to finance ongoing and new projects and support investments in concrete and asphalt production facilities, along with construction equipment and machinery.

“We took this decision to diversify the group's funding sources, in the context of a plan to expand our operations in the coming years," says Ion Crăciunescu, CEO and Founder of IBB Holding.

The group operates four plants that produce concrete for engineering construction, road concrete, and cement-stabilized aggregates near Bucharest, and an asphalt mixing plant in Pantelimon.

Grup EM starts trading on BVB's AeRO market

Romanian energy construction group Grup EM began trading on the Bucharest Stock Exchange's AeRO market, raising €5 million through its IPO.

Industry

MedLife reaches €1 billion market cap at BVB

Romanian private healthcare network MedLife has reached a market capitalisation of €1 billion at the Bucharest Stock Exchange (BVB), around nine years after the company went public.

Finance

Cris-Tim starts trading on BVB

Cris-Tim Family Holding debuted today on the Bucharest Stock Exchange's (BVB) under ticker CFH, becoming the first food industry company listed on Romania's main market. The company completed an IPO worth €89.3 million in late October.

Industry

Fondul Proprietatea backs Bucharest Airports listing

Franklin Templeton (FP), as manager of Fondul Proprietatea, has reaffirmed its support for listing Bucharest Airports National Company (CNAB) on the Bucharest Stock Exchange.

Finance

Romania opens way for pension funds to invest in private equity

Optional pension funds in Romania can allocate up to 10% of their total assets to private equity investment funds in Romania, the EU, and OECD countries.

Real estate

Romania sees higher construction works in early 2025

Romania's volume of construction work increased in the first two months of the current year, with a 16.7% rise in the unadjusted series, and a 19.5% rise in the series adjusted for working days and seasonality versus 2024, according to data from the National Institute of Statistics (INS).