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CNL Capital, the leading European equity fund (EPEA) in Greece, is ready to float its shares. The necessary approvals, the book-building process and the start of negotiations are expected to be completed by July 31, as the company has completed four years since its inception and is required by law to increase capital. and to increase the dispersion. of his actions.
The company will issue 400,000 new shares, with a par value of 10 euros, to raise funds of more than 4 million euros, depending on the training of the final sale price
of ECA was created in 2014 to meet the liquidity needs of small and medium-sized enterprises that found closed doors of banks
The initial capital was 800 000 euros and the increases of capital now exceeded 4 million. The main contributors to CNL Capital were Mr. Vihalalco Mihalis Stasinopoulos with 25%, Investment Bank of Greece with 9.5% and Onbadis Foundation with 7.5%. In total, there are now 33 shareholders, and at least another 300 will be added to the public registration process.
Who lends
The company covers small and medium-sized corporate bonds with a "ceiling" 1 year It borrows mainly companies that pay directly their suppliers but receive delays payment from their clients. This "gap" ended up covering CNL Capital and financing small and medium-sized enterprises with the necessary working capital. All loans are secured, mainly by the badignment of receivables by customers of the lending company or by personal guarantees of the badets of the entrepreneurs themselves
Since its inception, CNL Capital has issued 32 bond issues, 15 of them have expired and 17 are active. In total, it has financed 20 companies (2 and 3 times) for a total of 8.5 million euros (much more than equity because loans because they are short-lived are recycled).
New Investments
The company is already considering potential investments in more than 12 new bond issues in the next 3 to 5 months, for a total of more than 6.2 million in euros, in various industries the food industry, electrical equipment, consumer products, cosmetics production, construction industry.
"We want to be a strategic partner, an aid to the growth of Greek companies and the Greek economy," said Mr. General Manager of CNL Capital, Nicos Chloros . Panos Lekkas and General Director Mr. Nikos Chloros. CNL AEDOEE, licensed and supervised by the Capital Market Commission, manages CNL Capital's investment portfolio and is remunerated with management fees
At the end of 2017, the company's equity capital increased to 2 447 million euros and after tax profits tax to 137,000 euros against 31,000 euros. In particular, in 2017, CNL Capital's interest and fee income rose to 222,000 EUR and extraordinary and operational expenses to 84,000 EUR.
Dividends
The internal value of the stock as calculated by the trustee The company was at 31/5/2018 at 10.49 euros. Management undertakes to distribute an annual dividend at least equal to the average of the following two amounts: 40% of the annual profits and 4% of the capitalization of the company at 31/12 of the previous year. It should be noted that the corporate holdings (EKES) enjoy a favorable tax status, the withholding tax of 15% on the dividends not being applicable
Among the companies that were loaned by CNL Capital figures AISAKOS (raw materials for industrial sectors), Amaze SA (mobile marketing), Epexyl (special wooden constructions), etc.
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