Equest investment fund plans stock listing for Domo and Technomarket

British investment fund Equest, which controls Domo and the leader of home appliance retail in Bulgaria, Technomarket, recently finalized a project to simultaneously list a holding on the Bucharest and London stock markets aimed to group all retail operations in Romania and Bulgaria. Operations on other regional markets, where the investment fund has minority share packages, are also to be included in the new holding, sources told Business Standard.

The listing project was designed by expert teams within ING London’s corporate finance division and Raiffeisen Zentralbank Osterreich.

Domo founders, who currently own 25 percent of the shares, are to exchange their participation in the local company for a 10-15 percent stock in the new company.

Contacted by Business Standard, Szarvadi, who is acting as Domo CEO, said: “We hope for a listing as soon as possible, and for total transparency, which will ease the collaboration of our companies in the region, so that we can use all synergies within this partnership. I mean common acquisitions, joint campaigns, and regional marketing.”

He added that the listing is a 90 percent certainty, but “due to the capital market crisis it is not sure when this happen.” Szarvadi indicated that a second option would be a sale to a strategic investor in the coming three years.