History of the company
The issuing company operated since 1962 as a local trading company until 1973, when, following the reorganization of the territory of the Municipality of Bucharest, it becomes a local business.
On September 26th, 1979, by decision no. 1515 of the People’s Council of the Municipality of Bucharest, it is reorganized under the name of Întreprinderea Comercială Locală Alimentară 6, representing the main food trading unit in the 6th District of the Municipality of Bucharest. In 1990, after the publication of Law 15/1990, by Decision no. 1071 of November 9th, 1990 of the City-Hall of the Municipality of Bucharest, it was reorganized into a joint-stock company, under the name of Practic, taking over the assets and liabilities from the former state-owned economic unit ICL Alimentară Sector 6, the company being registered with the Trade Register Office attached to Bucharest Law Court under no. J40 /611/1991, assigned on February 19th, 1991, having the tax identification number RO 2774512.
SC Practic SA is a public company, being traded on the RASDAQ market since the month of November 1996, until 2015, when it was transferred to the AeRO market.
History of the activity after 1990. Over the first years, the company continued the activity of operating the proximity catering units and started the activity of renting some of the premises. The dynamics of the traditional commercial activity was obviously decreasing, given the fact that the development of the modern trade led, in the first phase, to the decrease of the activity of the old commercial structures.
For this reason, starting with 2002, the main scope of business has become the rental and sublease of real estate owned by the company, main scope of business that has been maintained up to the present date, namely the NACE Code 6820 – Renting and operating of own or leased real estate. Over this period, food and non-food business units, bank branches, pharmacies, catering units, etc. operated in the premises owned by the company. This way, the company has become, over the last decade and a half, one of the main operators of commercial and service premises in Bucharest. In parallel, as the decline of traditional street trade accentuated by the development of large modern commercial platforms, the company decided to elaborate feasibility and impact studies, in order to develop, by investments, those locations that could provide greater economic potential in the future. For this reason, the company got involved in several real estate transactions, purchasing, over the period 2001 – 2020, both lands and buildings, so that the real estate portfolio of PRACTIC SA today is different from the initial one, and the economic potential of the newly acquired properties provides an important perspective for the years to come.