Romanian company Bonas, which operates a small-sized dairy in Dezmir - Cluj county, will carry out a private placement in the second part of March and later list its shares on the Bucharest Stock Exchange, Ziarul Financiar reported.

The company's founders - the Nas family - currently control about two-thirds of its shares.

The existing shareholders plan to sell a 40% stake, under the private placement, to fewer than 150 selected investors, says Bonas shareholder and CEO Sorin Nas.

The target price for the 40% stake is EUR 2 million, the equivalent of a EUR 5 mln valuation for the whole company. The company's revenues increased to EUR 3.2 mln in 2019 from EUR 3 mln in 2018.

Its net profit reached EUR 240,000 in 2019. Its dairy range includes over 60 products, such as cream, cheese, cheese, kefir, sana, yogurt, or whipped milk.

They are sold in the 16 own stores that the company has in Cluj-Napoca. The company also sells its products through big retailers such as Kaufland, Mega Image, and Auchan.

(Photo: Pixabay)

andrei@romania-insider.com