The Romanian state-run aircraft repair and maintenance company IAR Brasov will debut on the Bucharest Stock Exchange (BVB) main market, following transfer from the Rasdaq market, according to company officials. The transfer was decided by IAR shareholders in February 2015 and the company got approval from BVB’s board at the beginning of July 2015.
More than 72 percent of IAR shares are owned by the Romanian state (the Ministry of Economy, Trade and Tourism holds 64.89 percent and the Ministry of Labor, Family, Social Protection and of the Elderly holds 7.3 percent), while almost 28 percent of the stocks are held by investors.
During the past 12 months over 963,000 of IAR shares were traded, representing about five percent of the company’s shares, for RON 2.4 million (EUR 0.54 million). IAR shares price rose almost 3.5 times in the mentioned period of time, reaching RON 4.66/share on Monday’s trading session. At this price, IAR has a market capitalization of RON 88 million (EUR 19.64 million).
IAR Brasov ended 2014 with a turnover of RON 101.7 million (EUR 22.9 million), almost 3 times higher than the figure registered in 2013, and a net profit of RON 5.7 million (EUR 1.3 million), more than 3 times higher than the one in 2013. During Q1 2015 IAR registered a turnover of RON 35.6 million (EUR 8 million) and a net profit of RON 11 million (EUR 2.5 million).
The company’s main local customers are the Ministry of Defence, the Romanian Intelligence Service, Ministry of Internal Affairs, as well as Eurocopter Romania. On the external market, IAR’s main clients are: DGP GHQ UAE Armed Forces , Royal Air Force of Oman, Lebanese Air Force, Pakistan Army/Aviation (through Aeroteh), Indonesian Air Force (through PT Citra Aviatama Dirgantara) and Airbus Helicopters in France/Germany (through Eurocopter Romania).
BVB runs markets for shares, bonds and other instruments, through regulated platforms and alternative systems, and provides a wide range of services to participants of financial markets. Bucharest Stock Exchange is a public company, listed on its own market since 2010.