Romania Feed

The market share of electric cars reached almost 10% in the first half of this year and topped 12% in June, in line with calculations by the Automotive Manufacturers and Importers Association (APIA) based on registration data.

Corrugated cardboard manufacturer Vrancart Adjud (VNC), a company in which the Paval brothers, the founders of DIY retailer Dedeman, have a 17% stake, announced on the Bucharest Stock Exchange that the Financial Supervisory Authority (ASF) had approved the simplified prospectus for the share capital increase, with Goldring acting as intermediary for the offer.

Cargill Agricultura, one of the largest grain traders in Romania, ended 2022 with RON5.59 billion revenue, a 35% increase on the previous year, Finance Ministry data show. The company's profit increased six-fold to almost RON200 million compared with 2021.

Romania's Finance Ministry raised RON583.5 million from banks on Monday, July 10, selling government paper maturing in October 2033, at an annual average yield of 6.87%. The bond issue has a nominal value of RON500 million.

A cross-border team from law firm Dentons assisted electricity producer Hidroelectrica during its EUR1.9 billion initial public offering, followed by the listing in the Bucharest Stock Exchange, which resulted in a EUR9.4 billion capitalization.

A team of lawyers of Schoenherr si Asociatii assisted Dutch-held AkzoNobel in the sale of its extruded polystyrene (XPS) operations in Romania to Austria’s Hirsch Porozell.

OMV Petrom’s (SNP.RO) total hydrocarbon production shrank by 5.3% from 120,100 barrel of oil equivalent per day to 113,700 in the second quarter of 2023 compared with the year ago period, following a decline in both oil and natural gas production.

Romanians are dissatisfied with their current salary amid inflation and have become more active in seeking new jobs. The number of applications has gone up by 23% against 2022. Retail companies have attracted the highest number of applications.

Romania’s trade gap in January-May 2023 shrank by 13.4% from the year-earlier period, to EUR11.05 billion, after exports rose by 7.5% and imports went up by 2.1%, in line with the country’s statistics board INS.

Total average income per household in Romania rose by 12.1% in the first quarter of 2023 vs the same period of last year, to RON6,979/month, namely RON2,797 per person, up 13%, in line with data from the country’s statistic board INS.

Spark Car Sharing, the company behind the biggest player on Romania’s car sharing market, in 2022 posted RON10.1 million turnover, up 55% from the previous year, in line with Finance Ministry data.

Aaylex One, an integrated business that includes poultry brand Cocorico in its portfolio, ended 2022 with RON 1.1 billion turnover, up 35% from 2021, in line with ZF calculations based on public data.

Viterra Romania, the former Glencore, ended 2022 with RON4.87 billion turnover, up 40% from 2021, in line with ZF calculations based on public data.

Local retailer La Cocos, controlled by entrepreneur Iulian Nica, in 2022 boosted its turnover by around 30%, twice as fast as inflation, with the company’s sales reaching RON713 million.

Telecommunications operator Digi Communications (DIGI.RO) has called shareholders for August 18, 2023, to discuss, among others, the distribution of a RON1 gross dividend per share, which, based on the current trading price, would give investors a 2.9% yield.

Banca Transilvania’s (TLV.RO) chief financial officer George-Razvan Calinescu made ten transactions during which he sold Banca Transilvania shares at prices between RON21 and RON21.56 each on July 5, Bucharest Stock Exchange data show.

A multijurisdictional team of Clifford Chance lawyers from the Bucharest, London and Frankfurt offices, coordinated by Madalina Rachieru-Postolache (partner in the global Capital Markets practice), has advised the underwriters in connection with Hidroelectrica's listing, the law firm said in a press release.

Law firm RTPR assisted Piletilevi Group in buying the majority stake in Departamentul Logistic Event SRL, owner of ticket sales website bilete.ro.

Romania’s statistics board INS upwardly reviewed the country’s economic growth for the first quarter of 2023 against the fourth quarter of 2022, to 0.2%, from 0.1% in June, but also against the first quarter of 2022, to 2.4%, from 2.3%.

Romania’s fintech startup Key Way Group, which has developed a trading platform for CFDs under CAPEX.com brand, has acquired WiredMarket.com broker of Greece, thus marking its first acquisition and arrival on the Greek market.