Fashion Retailer TinaR To Float Shrs On Bucharest Bourse By ‘09

Romanian fashion designer and retailer TinaR plans to float a 25% stake on the Bucharest bourse by next year, in a move to obtain financing for network expansion, the company said in a statement Tuesday.

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TinaR signed a consultancy agreement with brokerage house HTI Valori Mobiliare.

“The trading price will be determined after consultations with potential investors. TinaR will become a public company to gain access to the capital it needs to expand its operations to the level reached by peer companies in neighboring countries. The main goal will be doubling the number of stores within six months from floating,” said Daniel Tepes, Board member at HTI.

At the end of 2007, TinaR had 14 stores.

TinaR eyes turnover of EUR7 million in 2008. The company plans to invest EUR1 million in 10 new stores nationwide.

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