MobilRom, the GSM - Dialog mobile telephony operator controlled by France Telecom, plans to list its stock in one year on the Bourse, both on the domestic and on the international market, depending on the way in which the Romanian economy and the company's businesses will develop.
"MobilRom listing on the capital markets is part of the investment strategy of the company and takes into account the way in which the mobile telephony market will develop in Romania," MobilRom CEO Bernard Mescheni told Ziarul Financiar.
He says that, in the first phase, MobilRom might launch an offer of 25 percent of the company's shares, by a capital increase.
"We don't know yet how we are going to launch this strategy, but I think that we will initially issue 5 percent of the shares on the domestic market and 20 percent on the international markets," Moscheni said.
Starting last October, six private investment funds became shareholders of MobilRom. Thus, following an investment amounting to 80 million dollars, American International Group's (AIG) New Europe, Polish Enterprise Fund, Innova, Societe Generale Romania Fund, Societe Generale East European Opportunities Fund and Verbena Servicos currently hold 15 percent of the company's share capital.
According to the company's CEO, MobilRom investments since the service was launched until the end of 1999 amounted to about 450 million dollars. For this year, the company forecasts investments of over 90 billion dollars.
Financial analysts consider that, at this moment, the value of MobilRom might amount to somewhere between 800m - 900 million dollars, which might surge towards 1.5 billion in one year's time, depending on the company's performance on the capital market. This is directly bound to the economic recovery, the population's purchasing power, which is to be finally found in MobilRom's revenues. The figure of 1.5 billion dollars could not be far from reality because everybody is crazy about mobile telephony, analysts say.
In the case of a mobile telephony company, its value is calculated according to the number of subscribers, the annual average income per subscriber, and the assessment of discount cash-flow.
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