Romcolor IPO to be launched by February 15

This could be one of the first IPOs on the BVB this year. According to Romcolor Manager, Florin Tonescu, Romcolor's Manager. The company is to increase its share capital by some 25 percent, by issuing 20 million shares, worth €0.0273 each, increasing its share capital by 25 percent.

According to a company shareholder, Georgiana Pogonaru, Romcolor plans to sell 4 million shares of the shares that are already part of its share capital and targets a 20 percent free-float.

Romcolor has a 65 percent share of the local market and is exporting its products to 16 countries in Central and Eastern Europe. Its turnover amounted to €8.5 mln in 2007 , according to Tonescu.

Romcolor 2000 is part of Global Color group. Greek company Plastika Kritis SA, one of the most important European producers of paint and additives, owns 80 percent of Global Color group.