Some of the brokers on the market say the initial publicoffering of hydraulic pumps producer UM Plopeni, which startstoday, will serve as an example for many local businesspeople whowant to carry out such an operation, aimed at attracting capitalfrom the Stock Exchange.
Hidraulica Plopeni is the first private company to test stockexchange IPOs after a two-year dry spell because of thecrisis.
The latest company that was able to raise capital from the marketwas Teraplast Bistriţa (TRP) through an offering carried out inApril 2008, worth nearly 50 million RON, before the effects of thecrisis were fully felt.
The failure of the initial offering carried out one month later byconstruction materials producer Pomponio in Alba Iulia turnedmanagers away from this method of financing.
"Because initial public offerings are so rare with privatecompanies, Hidraulica Plopeni's IPO is interesting to watch despiteits low value. I think it will stir interest and give importantclues to those who want to take this step in the next period. Itcould set an example for other businesspeople who want to use stockexchange financing," says Mihai Chişu, broker at IFB Finwestbrokerage.
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