Romania‘s Balanta Sibiu To Take EUR20M Loans, Trade EUR30M Shares

Romanian electronic scales and weighing machines producer Balanta Sibiu (BALT.RO) decided to take up to EUR20 million loans, for investments in its production capacity, also planning to trade assets and shares worth maximum EUR30 million.

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The decisions were made during the company’s shareholders meeting on March 21.

Balanta Sibiu shareholders authorized the company’s Board to contract mortgage loans and to trade shares and assets.

Balanta closed 2008 with a 1.8 million lei (EUR1=RON4.2329) loss, after a RON42,000 profit a year earlier. In 2008, the company had a RON9.4 million turnover, 7.75% lower on the year.

The company has a share capital of RON2.73 million split into 27.3 million shares with a face value of RON0.1.

According to the latest data, the Sibiu-based company is majority owned by its general manager, Eftimie Costeiu, with a 67.83% stake, while the employees’ association owns 17.61% of its shares.

The company is listed on the Rasdaq market of the Bucharest Stock Exchange. Balanta’s shares were last traded on January 29, at the flat price of RON0.2 per unit. Thus, the company’s market value stood at RON5.4 million.

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