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Monday, October 23, 2017 
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AAGES a new Romanian entrepreneurial company listed on the Bucharest Stock Exchange

6/19/2017

  • Gabor Molnar, CEO AAGES: The listing was an exam. Our company has reached maturity, and our place is on the stock market
  • Ludwik Sobolewski, CEO BVB: „Made in Romania”  is a phenomenon that shows that Romanian businesses have the ability to create quality products and services that can gain more value and recognition through the capital market
  • Lucian Anghel, BVB President: The development of the local capital market is driven by the three entrepreneurial companies that continued to develop their success stories by getting listed on the stock exchange in the past six months. I'm confident the examples will continue, and other successful entrepreneurs will follow suit and list their businesses on BVB

 

AAGES shares (AAG), a company which designs and manufactures induction heating systems for a wide range of applications, began trading on the Bucharest Stock Exchange (BVB) on June 19th, following a bid through which shareholders have sold 15% of the company for RON 5.49 million.

AAGES (Association for the Application of Static Generators) was founded 26 years ago by ten Romanian researchers. The company is headquartered in Sangeorgiu de Mures, near Targu Mures. Currently, the company has over 140 employees, generates a turnover in excess of EUR 5 million and exports over 70% of its production.

"Our company has reached maturity, and we no longer need to invest a lot from our profit into development and we are able to allow a considerable part of the profit to be distributed as dividends. Listing the company on the stock exchange is like passing an exam and, for a company that has a vision, going public is an option to consider. Our place is on the stock market," said Gabor Molnar, CEO of AAGES.

"Everything that AAGES does is designed and built here, locally. „Made in Romania” is more than just a label, it is a phenomenon showing that Romanian businesses have the ability to create quality products and services that can gain more value and recognition through the capital market," said Ludwik Sobolewski, CEO of Bucharest Stock Exchange.

"The development of the local capital market is driven by the three entrepreneurial companies that continued to develop their success stories by getting listed on the stock exchange in the past six months. After MedLife and DIGI, it was AAGES turn, this time a production company, to confirm that the capital market is open to all business opportunities. The growing interest of the investors for the capital market was also noted by the fact that the offer for the sale of shares lasted only two days compared to the ten days initially scheduled. I'm confident the examples will continue, and other successful entrepreneurs will follow suit and list their businesses on the Bucharest Stock Exchange," said BVB’s President, Lucian Anghel.

"I believe in the power of the example. The listing takes place in a favorable context given the examples of the other two companies, MedLife and DIGI. We can not expect only big companies to come to the stock market, small companies can also add value and can grow using the stock exchange," said Virgil Zahan, CEO of Goldring, the brokerage company which intermediated the deal.

The offer for the sale of 1.5 million shares in the company was closed at the price of RON 3.7 per share. At this price, the company's capitalization exceeds RON 37 million.