* The management of "Uzinsider" intends to list Promex Brăila on the BSE
* The company was delisted from the Rasdaq six years ago
* "Uzinsider" is looking for a foreign investor
The management of "Uzinsider", one of the biggest domestic exporters of industrial equipment, is considering listing "Promex" Brăila on the stock exchange, after Promex was delisted from the Rasdaq market more than six years ago.
"We would like to list < Promex > Brăila on the stock exchange", said Constantin Savu, the CEO of the "Uzinsider" Group, in an interview for BURSA.
The company was previously listed on the Rasdaq tier until 2004, when "Uzinsider" was forced to perform a public takeover bid and delist the company due to the legal requirements of the legislation in effect at the time.
The "Uzinsider" group already has three companies listed on the Bucharest Stock Exchange: "Comelf" Bistriţa (symbol:CMF), "24 Ianuarie" Ploieşti (symbol:IANY) and "The Technical Design Institute Uzinsider Engineering" Galaţi (symbol:ICPM), with the latter two listed on the Rasdaq market.
Constantin Savu said: "Some people say having a company listed on the stock exchange is bad, other say it"s a good thing... We control companies that are listed on the Bucharest Stock Exchange and on the Rasdaq tier, but we also have private companies, so we know the benefits and drawbacks of each type. In my opinion the stock market needs to begin serving its true purpose and attracting investor interest, and serious companies need to be listed for their market value to be acknowledged, as soon as possible."
The head of "Uzinsider" admits that this period is not really favorable for a flotation, as the companies of the Group are feeling the effects of the economic crisis.
"We can not list Promex right now, because it wouldn"t be beneficial for us because of the ec
