Future Group to launch €1 shares on BVB

The company will put up sale 25 percent of its share capital on the Bucharest Stock Exchange (BVB) at €1 per share, according to the documentation. However, a final date for the IPO has not yet been set. “We initially said we would launch the offer in May, but market conditions have led us to postpone this,” the company’s Managing Director, Daniela Andronache, told Business Standard. 

She added that company officials hope Future Group’s market value will reach €100 million following the listing. The company is owned by two Israeli families, Razin and Laznik. 

The company will develop residential projects worth €350 million in the coming three years, in the cities of Bucharest, Sinaia, Campina and Brasov, totaling 5,000 apartments. Another 1,220 apartments project will be launched this year in the southeastern city of Galati will require investments worth €90 million. 

Two IPOs have already taken place this year on the Bucharest Stock Exchange and a third is ongoing.