Romaero sits on 200m-euro worth of land

Producer of aeroplane components Romaero Bucuresti gained around 195 million euros (688 million RON) following a reappraisal of its corporeal assets, land and buildings, made at the end of last year, according to the company’s annual report. At the latest price on the Stock Exchange, 46.6 RON/share, Romaero is worth 89 million euros. Most of the increase in value was generated by land whose value has increased six times to 782.5 million RON (222 million euros). Romaero holds important areas of land in Baneasa, one of the most dynamic areas in Bucharest in terms of real estate development, with the land price seeing a significant increase over the last few years. The company management could not be contacted for more details on Wednesday. Last week, the company’s shares advanced by over 70%, before being suspended, they finally resumed trading yesterday. The reason behind the suspension was due to the Bucharest Stock Exchange deciding to transfer the shares of 1,400 companies from the XMBS segment, which includes Romaero shares, into another system similar to the one used on the Stock Exchange.