Shares of Association for the Application of Static Generators (AAGES), a designer and manufacturer of induction heating systems, are trading on the Bucharest Stock Exchange (BVB), according to a BVB press release.
"Our company has reached maturity, and we no longer need to invest a lot from our profit into development and we are able to allow a considerable part of the profit to be distributed as dividends," Gabor Molnar, CEO of AAGES, said in the release. "Listing the company on the stock exchange is like passing an exam and, for a company that has a vision, going public is an option to consider. Our place is on the stock market."
Ludwik Sobolewski, BVB CEO, said in the release that AAGES operates 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," Sobolewski said.
Virgil Zahan, CEO of Goldring, which brokered the deal, said large and small companies add value to the exchange.
"I believe in the power of the example," Virgil said. "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."
AAGES was founded more than 25 years ago by Romanian researchers and is based in Sangeorgiu de Mures. The company has more than 140 employees.