Diverta goes public

In order to move ahead with its plans to go public, a natural step is the development of Diverta Holding division. The valuation of the business and the necessary pre-IPO studies will be carried out together with an advisory company, the company said in a press release.

The development strategy will enable the company to split the business operations into separate entities for an efficient and transparent management aimed at developing an advanced financial oversight mechanism. Therefore, Diverta will split into three business lines – retail, distribution and business development – that will fall under Diverta Holding management.

The distribution line will serve both as supply platform of Retail Diverta line and for third parties, and will include all lineups – book, media, toys, IT.

The retail line will consolidate the store chain and the establishment of a franchise system.

The low penetration rate of the market, as well as the identification of a high growth potential in the country and overseas come together in a comprehensive growth and development plan.

“Preparing Diverta for the listing is our top priority now, because attracting investors is a key focus of our business. Therefore, the profit will become our main objective, and in order to achieve our goals, revenues and cost centers will no be separately managed. We want each line to become an independent profit center”, said Amalia Buliga (photo), CEO Diverta.

For the time being, Diverta chain includes 62 stores in 39 cities across the country, with an aggregate selling area of over 24,000 sqm, including the one in Republica Moldova. With a market share of over 35% in the local book market, Diverta plans to keep its leading position in the future.

Diverta posted revenues of €35 million in 2009 fiscal year, down 30% from a year earlier.

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