Romania's largest chemical group, Chimcomplex, invited its shareholders on April 11 to endorse plans for a EUR 60 million loan, according to a note to investors published by the company.

The financing will be used for "implementing investments, carrying out any expenses provided for in the company's business plans, refinancing," among others, according to the company's note.

Chimcomplex will also ask for its shareholders' approval (the company is controlled by Stefan Vuza) to sell non-core assets worth EUR 20 million.

Chimcomplex reported nearly RON 1.5 billion (EUR 300 million) turnover (+7% y/y) and remained in the black with a net profit of RON 3.5 million (-77% y/y).

The company has a market capitalisation of RON 3 billion (EUR 600 million) after the price of its shares plunged by 46% y/y. It did not distribute dividends in 2024.

iulian@romania-insider.com

(Photo source: the company)