Utilitech Services, a Bucharest-based company that provides cleaning, maintenance, and security services for buildings, created six years ago, is launching a bond issue on the Bucharest Stock Exchange (BVB) amounting to almost RON 4.9 million (EUR 1 mln).

The bonds have a maturity of three years and a coupon of 8.5%, payable annually, Profit.ro reported.

The issue includes 48,835 unsecured bonds, denominated in local currency. The 48,835 bonds were are already subscribed by 102 investors and will mature in March 2023. The bonds will be listed on BVB Friday, February 26.

The company, controlled by Lucian Ciofoaia, former director of the Otelul football club and manager of Intercapital Invest and Grup Sapte in Cluj-Napoca, reported a turnover of about RON 2 mln in 2019, some 10% up from 2018, and a profit of RON 209,878 (EUR 45,000) - three times less than the RON 627,774 profit in the previous year. The company has about 40 employees.

Utilitech Services is 99.99% controlled by Lucian-Constantin Ciofoaia, while Stratus Investcapital holds 0.01% of the share capital, according to the memorandum prepared for the admission to trading and published on the BVB website.

andrei@romania-insider.com

(Photo source: Andrey Popov/Dreamstime.com)