Continental selects floatation brokers

The floatation of the Continental hotel company on the Bucharest Stock Exchange scheduled for this summer will be handled by a consortium of three securities firms: BRD Securities, Raiffeisen Capital & Investment and Alpha Finance. “We signed the intermediation contract with the syndicate of the three companies and we believe the participation of all the three companies is the best formula for this project. One of the reasons we decided to make the contract with a syndicate was the fact that after the listing we want to access the customer base of the three companies in case we decide for an equity or bond issue,” said Radu Enache, chairman and main stakeholder of the company. Continental was also in talks with CA-IB, the brokerage firm of HVB Bank. The company decided to float on the capital market this spring, after finalisation of the merger of the four companies that make up the chain: Continental, Continental Vest, Continental Nord and Dacia Continental. The merger was achieved through absorption by Continental of the other three companies. After analysis of the financial situation of the company is completed, the consortium of three brokerage firms will decide whether the floatation will be performed by an initial or secondary public offering. ZF