The largest garment manufacturer will pass to ATS

The shareholders of Romanian clothing manufacturer Braiconf Braila (ticker symbol BRCR), the most valuable company in the apparel industry on the stock market, decided to moved to Alternative Trading System Stock Exchange in Bucharest. The capitalization of Braiconf is 24 million lei. The company is listed on the RASDAQ, which at the end of October next year will cease to exist. To the end of February all companies listed on RASDAQ must decide to withdraw shares from trading or going to a regulated market or on the Alternative Trading System (ATS). According to the latest reports, Bank Julius Baer has a 25% shares, while the company Electroargeş 17.6. The other 57% belong to other stock market investors. On December 22, 2014. the shareholders of Braiconf adopted budget for 2015. The company expects total revenues of 35.8 million lei, which represents an increase of 7.5% compared to revenues from 2013. At the beginning of December the Bucharest Stock Exchange has received approval from the Romanian Financial Supervision Commission to restart the Alternative Trading System, and the new AeRO market will be opened on 25 February 2015. AeRO market will be also devoted for companies from RASDAQ market that decide to continue their activities after the dissolution of this market. On RASDAQ market are about 900 companies with a total capitalization of about 7.5 million lei. Source: zf.roTags: , ,