Chemical group Chimcomplex, with a market capitalisation of EUR 1.15 bln, got permission from the market regulator ASF to go ahead with a buy-back operation involving 0.9 mln or 0.3% of its own shares, Bursa reported.

The shares, to be purchased at a price of RON 23.2 (over 25% above the current market price), will be used as part of the compensation packages.

The budget of the buy-back operation thus exceeds RON 20 mln (EUR 4.2 mln).

The company reported RON 2.43 bln revenues and RON 464 mln (EUR 94 mln) net profit last year.

Stefan Vuza owns 85% of Chimcomplex indirectly through Amsterdam-registered CRC Alchemy Holding. The Romanian state, through the Authority for the Administration of State Assets, owns 9% of the chemical group. 

(Photo courtesy of the company)

andrei@romania-insider.com