History of the company and of it`s legal forme
The issuing company has functioned since 1962 as a local commercial organization until 1973, when, following the territorial reorganization Bucharest becomes the local commercial enterprise. On 26.09.1979, thfough the decree nr. 1515 of the Bucharest People’s Council, it was reorganized under the name Local Food Trading Enterprise #6 is the main food marketing unit in Sector 6 of Bucharest Municipality. In 1990, after the appearance of Law 15/1990, by Decision nr.1071 dated 09/11/1990 Bucharest City Hall, it was reorganized into a joint stock company, titled Practic, by taking over the assets and liabilities of the former economic unity State ICL Food Sector 6, the company is registered with the Trade Register of Bucharest Tribunal under no. J40 / 611/1991 dated 19/02/1991 attributed to having fiscal code RO 2774512.
Practic company SA is an open society, being floated on RASDAQ from November 1996 until 2015, when it was transferred to the AeRO market.
History of the activity after 1990. In the early years after the company was reorganized into a joint stock venture, the company continued to operate the proximity public catering – old shops- and started leasing activity of some areas, mostly with the same tenants. The dynamics of the traditional commercial activity was downward trending , since the development of modern trade led to decreased activity, in the first phase, of old commercial structures.
Because of this, since 2002, the main activity has become the lease and sublease of real estate held in various forms by the company, its main activity has been maintained to date, respectively CAEN code 6820 – Renting own or leased real estate. In areas held by the company functioned in this period trade and non-food units, bank branches, pharmacies, catering units etc. In this way society has become in the last decade, one of the leading operators of retail and services in Bucharest. In parallel, since the development of large modern shopping platforms traditional street trade accentuated decline, the company decided to develop feasibility studies and impact through investments to develop those locations that could provide future economic potential important. For this reason the company has been involved in several transactions aquisitions – both land and buildings – in the period 2001 – 2015, so the real estate portfolio of Practic SA is very different from the original, and the economic potential of new properties acquired provide important insight for years to come.