MAM Bricolaj, a supplier of materials and accessories for furniture controlled by the Gavan family, wants to list its shares on the Bucharest Stock Exchange this fall.

The company is looking to draw EUR 2 million from investors by selling a 25% stake in an initial public offering (IPO).

The retailer plans to use the money for development. Local brokerage firm Tradeville will manage the IPO.

"We want to list on the stock exchange for attracting the capital necessary for the company's development. Our business model has proven profitable and scalable. We want to sell 25% of the shares. The listing will take place in autumn when investors return from their holidays, and the activity returns to normal. We intend to attract EUR 2 million through this listing," Cristian Gavan, founder and majority shareholder of MAM Bricolaj, told Ziarul Financiar.

The company has two stores in Bucharest, one in Berceni and one in Titan. In 2019, MAM Bricolaj had a turnover of RON 29.4 million (EUR 6 mln), 15% higher than the previous year.

(Photo: Diana Oros/ Inquam Photos)

editor@romania-insider.com