EnglishReal estate developer Imotrust - Arad (RASDAQ:ARCV) have agreed to double share capital to 21.36 million RON and move the company to the Bucharest Stock Exchange (BSE). The company will issue 106.82 million shares with a face value of 0.1 RON, equal to the subscription price. Shareholders registered as such by November 19th will be able one new share for every existing share.
Six months through the year Imotrust reported a 5.5x increase in net profit to 18.04 million RON (5.7 million EUR) from 3.23 million RON. The turnover increased 62.5% to 1.3 million RON (414,961 EUR) from 825,674 RON. Imotrust has a share capital of 10.68 million RON divided into 106.8 million shares with a face value of 0.10 RON. A concerted group of companies and individuals from Arad holds 71.81%. Morgan Stanley & Co. International Ltd. holds less than 5%. The company has a market capitalization of 384.56 million RON (114.94 million EUR) as per the price of 3.60 RON/share dated November 1st.
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