Year: 2025
IPO – Contakt Express Logistik S.A.
Contakt Express Logistik S.A. is conducting a Public Offering of nominative, ordinary, indivisible, dematerialized shares of equal value, each having a nominal value of 0.1 RON/share (trading symbol: CTK).
Subscription period: 15 business days, from November 12, 2025 to December 3, 2025, the last day of the Offer being December 3 at 13:00 (EET).
Number of shares offered: up to 3,660,000 ordinary shares
Offer structure:
Analysis of S&P 500 Concentration: Strategic Implications for Investors
An analysis of the S&P 500 index shows a historically high level of value concentration—a reality with important implications for our investment strategies. Although the S&P 500 is widely regarded as a standard of diversification, data reveals that a small group of companies holds dominant influence.
This article examines this trend, provides historical perspective, and discusses what it means for our portfolios. Continue Reading
Contakt finishing up on IPO preparations and listing on BVB’s AeRO market
Contakt Express Logistik, the national leader in mobile phone and tablet accessories distribution, is moving forward with its growth strategy by preparing for an Initial Public Offering (IPO) and listing on the Bucharest Stock Exchange (BVB), AeRO market. The company is currently finalizing the documentation for submission to the Financial Supervisory Authority (ASF), a key step in launching the public offering. Continue Reading
The First Carpathia Investing Club Meeting in Brașov
Investing is no longer just the domain of Wall Street experts. It has become part of the everyday lives of many Romanians looking to protect and grow their capital. Carpathia Investing Club, a community born in Cluj, is now expanding to Brașov—a city with significant potential both in real estate and on the stock market. Continue Reading
Carpathia Investing Club #26: Hiking in Roșia Montană
For its 26th monthly gathering, the Carpathia Investing Club embarked on an exploration of a national treasure: Roșia Montană. More than just a hike, the event was a deep dive into the layers of history, a lesson in value, innovation, and resilience, perfectly aligned with the principles that guide the community. Continue Reading
Carpathia Investing Club Expands to Brașov
After 3 years of building a strong community in Cluj, Carpathia Investing Club will now support the local investment community in Brașov! Starting July 14, 2025, after 3 years of activity and sustained local growth, this move represents a significant step in achieving the club’s main objective: improving the level of financial education in Romanian society. Continue Reading
Carpahtia Investing Club and “The Path of the Partisans” – Reconnecting with History and Nature Through a Financial Lens
On Saturday, during the 24th monthly meeting, members of the Carpathia Investing Club embarked on the themed trail known as “The Path of the Partisans” in the Apuseni Natural Park. More than just a hike, the event turned into a multidisciplinary experience where history, nature, and active learning intersected in a deep and memorable way. Continue Reading
Investors’ Meeting with Contakt: A Key Step Toward Stock Exchange Listing
On June 19th, an important meeting took place at the Courtyard by Marriott Hotel in Cluj-Napoca between the investor community and Contakt, the leading company on the Romanian mobile phone accessories market. The event was organized in the context of exploring a potential listing on the Bucharest Stock Exchange (BVB), projected for the latter part of 2025.
More than 50 investors attended the event, where they were presented with the company’s development plans, investment proposals, and insights into the public’s evaluation of Contakt.
During the Q&A session, the management team addressed key questions on topics such as the sustainability of the business model, international market expansion, internal process digitalization, and potential risks faced by the company.
Representatives from Contakt’s management and Board of Directors provided constructive and transparent answers, sharing information about the company’s successful investments. The leadership also emphasized that physical stores remain the main source of revenue, which is why offline expansion is significant—currently, the company operates 100 times more stores and kiosks than it did at its inception.
The event provided a valuable networking opportunity for both existing investors familiar with the company and newcomers encountering it for the first time. The presentations highlighted both Contakt’s achievements to date and its ambitions for the future, especially in the context of a potential entry into the capital market.
Cabat & Pah Investments and Goldring were present as consultants for the evaluation and listing process, offering strategic expertise for the next steps.
Among the attendees were members of the Carpathia Investing Club, an active investor community based in Cluj-Napoca, further emphasizing the growing interest in high-potential Romanian entrepreneurial companies.
This event was part of a series of preparatory meetings aimed at facilitating the BVB listing process and strengthening relationships with individual investors.
For information on upcoming events, visit the Carpathia Investing Club website at carpathiainvestingclub.org.
Real Estate Investments in Cluj-Napoca: Exchange Rate, Prices, and Outlook. Carpathia Meetup #23
On Wednesday, May 29th, the 23rd meeting of the Carpathia Investing Club took place, an edition dedicated to analyzing the Romanian real estate market in the context of exchange rate fluctuations. We had the honor of hosting Adrian Copil, Owner at Koncept Imobiliare, and Sorin Sucala, Realtor Broker/Owner at Imobiliare360, two experts who offered valuable insights into a dynamic sector. The discussions were moderated, as always, by Flavian-Cătălin Pah, investment consultant and founder of the Carpathia Investing Club.
Euro above 5 Lei: Impact on the Cluj Real Estate Market
One of the hottest topics of discussion was undoubtedly the euro surpassing the 5 RON threshold and its impact on property prices in Cluj-Napoca. Adrian Copil perfectly illustrated this situation with a concrete example: in April, he had a property for sale at €99,000, and on May 8th, when the exchange rate “exploded,” the price difference exceeded 14,000 RON. This is a significant sum, demonstrating the extent to which the real estate market has been affected by recent exchange rate volatility.
Percentage Increases vs. Absolute Value: Satellite Towns in the Spotlight
Another interesting topic was the increase in apartment prices in satellite towns such as Turda, Dej, and Gherla. It was noted that these areas are experiencing higher percentage increases compared to major cities like Cluj-Napoca or Bucharest. However, it’s important to mention that, in terms of absolute value, prices in these towns cannot compare to the figures recorded in major urban centers. This trend may indicate a shift in demand towards adjacent areas due to more accessible prices and a similar quality of life at lower costs.
Why You Shouldn’t Expect a Major Price Drop
A common habit among potential buyers is postponing a home purchase in the hope of a price drop. Both Flavian-Cătălin Pah and Sorin Sucală debunked this myth, emphasizing that, apart from exceptional situations like the 2008 crisis—when those who bought at the “peak” needed over a decade to recover their investment—such significant drops are no longer possible today. The market has matured, and the supply-demand dynamic, along with other macroeconomic factors, supports a long-term growth trend.
The Romanian Real Estate Market: An Opportunity for Foreign Investors?
A crucial aspect, brought up by Adrian Copil, concerns recent legislative changes. Starting January 1, 2025, foreign citizens can purchase properties in Romania without needing a NIF number. The NIF, or Fiscal Identification Number, is a unique code that, in the Romanian context, is equivalent to the Personal Numeric Code (CNP) for Romanian citizens or a tax identification code for non-residents, thus simplifying the acquisition process for them.
This facilitation, combined with the fact that Bucharest remains the cheapest European capital, and Cluj-Napoca the cheapest city as a country’s second economic hub in Europe, will significantly influence real estate prices.
What’s Next?
Next month’s Carpathia Investing Club meeting will take place on the Partisan Trail in Răchițele. The exact date has not been set, but we invite you to follow us on social media on the Financiaria and Flavian-Cătălin Pah pages to stay updated on future events.
We are glad we had the opportunity to address these essential topics and learn from specialists. Read other articles about investments on our blog. For more information about the latest analyses and events of the Carpathia Investing Club, subscribe to our newsletter at the bottom of this page and join our Facebook Group.
Investments in Romania from 1859-1945. Carpathia Meetup #22
At the Carpathia Investing Club meeting on April 24, 2025, we had the opportunity to explore a lesser-known corner of Romania’s economic history, guided by historian Iosif Marin Balog, senior researcher at the “George Barițiu” Institute of History in Cluj-Napoca. From public fundraising for the Romanian Athenaeum to the entrepreneurial revolution in Cluj, the discussions were both fascinating and eye-opening. Here are a few of Thursday’s interesting topics: Continue Reading