Romanian chemical group Chimcomplex (CHOB), controlled by local businessman Stefan Vuza, has convened an extraordinary shareholders’ meeting for June 30 to decide its listing on the main market operated by the Bucharest Stock Exchange (BVB).

The company’s shares are currently trading on the BVB’s secondary market – AeRO. The Chimcomplex shares have tripled their price since the beginning of this year, boosted by the company’s strong financial results in 2020 and the recently announced plans for a secondary listing on the Warsaw Stock Exchange.

Chimcomplex has thus reached a market capitalization of RON 1.89 bln (EUR 385 mln). The company recorded a net turnover of RON 1.17 bln (EUR 240 mln) in 2020, slightly lower than in 2019. However, it reported a net profit of RON 95 mln (EUR 19.5 mln), compared to losses of RON 44 mln in 2019.

This year, Chimcomplex aims to increase its sales to RON 1.57 bln and the net profit to RON 112 mln, according to the budget recently approved by its shareholders.

(Photo courtesy of the company)

andrei@romania-insider.com