AAGES – another company listed on the Bucharest Stock Exchange

AAGES – another company listed on the Bucharest Stock Exchange

AAGES (AAG) - a company that designs and manufactures induction heating systems for a wide range of applications, debuted on the Bucharest Stock Exchange (BVB) on June 19, 2017, after acquiring a 15% stake in the company by the shareholders for RON 5.49 million.

AAGES (Association for the Application of Static Generators) was founded 26 years ago by ten Romanian scientists. The company, based in Sangeorgiu de Mures, near Targu Mures, employs more than 140 people today, generating sales of over 5 million euros and exports exceeding 70% of production.

"Our company has evolved and is working so well that we do not need to put much of the profit into its further development. We are able to allocate part of the profits for distribution as dividends. Stock quoting is for our company, which has a vision and a public approach to further development is a kind of exam. Our place is on the stock market" said Gabor Molnar, CEO of AAGES.

"Everything that AAGES does is designed and built here, locally. „Made in Romania” is more than just a label, it is a phenomenon showing that Romanian businesses have the ability to create quality products and services that can gain more value and recognition through the capital market," said Ludwik Sobolewski, CEO of Bucharest Stock Exchange.

"The development of the local capital market is driven by the three entrepreneurial companies that continued to develop their success stories by getting listed on the stock exchange in the past six months. After MedLife and DIGI, it was AAGES turn, this time a production company, to confirm that the capital market is open to all business opportunities. The growing interest of the investors for the capital market was also noted by the fact that the offer for the sale of shares lasted only two days compared to the ten days initially scheduled. I'm confident the examples will continue, and other successful entrepreneurs will follow suit and list their businesses on the Bucharest Stock Exchange," said BVB’s President, Lucian Anghel.

"I believe in the power of the example. The listing takes place in a favorable context given the examples of the other two companies, MedLife and DIGI. We can not expect only big companies to come to the stock market, small companies can also add value and can grow using the stock exchange," said Virgil Zahan, CEO of Goldring, the brokerage company which intermediated the deal.

The offer for the sale of 1.5 million shares in the company was closed at the price of RON 3.7 per share. At this price, the company's capitalization exceeds RON 37 million.

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