Intercapital Invest hopes to float in three years

Brokerage firm Intercapital Invest Bucharest intends to have its own shares listed on the Bucharest Stock Exchange in three years.

It is thus following in the footsteps of Cluj-based Broker, which floated in 2004 and became the first financial brokerage company to be listed on the capital market.

“The company”s plan is to float on the Stock Exchange by 2008,” Razvan Pasol, chairman of Intercapital Invest told ZIARUL FINANCIAR.

“We want to be listed because, as those at Broker explained, we are trying to bring companies on the Stock Exchange promoting the advantages of the market, and at the same time we believe a great deal in these advantages and it is only natural for us to want to set an example.

“The main reasons why we are planning for a floatation have to do with visibility, with the company”s image, but let”s not forget here the possibility the capital market provides in terms of attracting funding,” Pasol added.

Intercapital Invest totalled 0.65 million RON (0.18 million euros) in share capital at the end of last year, which is quite low, especially if compared with the over four million euros in capital Broker had at the time it decided to float.

“We will certainly not have the same capital at the time when we launch the initial public offering in view of listing. The current value is really irrelevant in respect to that moment. We will capitalise the profit, we will perform increases by contributions in cash, but it is too early now to be offering a value for the capital we will have in three years,” Pasol said.

Intercapital”s management also intends to see the company”s revenues reach 10 million dollars (8.5 million euros) in three years, approximately 10 times higher than last year. The company”s revenues have witnessed a fast-paced growth, with growth last year reaching 161% in RON (229% in dollars and 194% in euros).

Intercapital Invest

* Wants revenue to reach $10m (8.5m euros) in three years, almost ten times as much as last year

* Revenue growth has been fast-paced, with the pace reaching 161% in RON (229% in dollars and 194% in euros) in 2005

* Net profit in 2005 stood at 0.25m RON (0.069m euros), from 20,000 RON (4,900 euros) in 2004