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ZF English

Three brokers become Tina R shareholders

Three brokers become Tina R shareholders
29.02.2008, 17:56 10

Sorin Apostol, former owner of brokerage company Swiss Capital, Daniel Tepes, former majority shareholder of HTI Valori Mobiliare (HTI Securities), and Grigore Chis, former trading manager of Broker Cluj, purchased an 11.38% stake in clothing retailer Tina R last year, after the sale of a 49% stake in the company to Dutch fund MEI failed to take place. According to market sources, the entrepreneurs could float the company on the Stock Exchange in the next 2-3 years. If this happens, Tina R will become the first local clothing retailer to be listed on the stock exchange. "We bought shares in Tina R last year as part of the capital increase, because we considered it an attractive company in a field with high growth potential, given the large number of shopping centres that will open in the coming years," Sorin Apostol told ZF. He also specified that the shareholders had not discussed the company's possible floatation on the Stock Exchange yet. Tina R posted turnover worth 5 million euros last year, and profit worth 600,000 euros. Tina R's founders, Rares Jianu and Sevastina Stoica, sold a 24% stake in the company last year to a group of seven businessmen, in a transaction worth 900.000 euros. According to data from the Trade Registry, the main buyers were Ilie Stoichescu and Sorin Apostol, who each purchased a 7.4% stake, followed by Daniel Tepes with 2.7%. The businessmen are well known on the capital market and in the IT industry, and made several millions of euros from selling the businesses they had developed.

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