Local Romanian Entrepreneur invests over EUR50M
Local entrepreneurial company Holde Agri Invest, which operates farmland, expects investments of over EUR50 million in developing its business. Its main target is to operate a portfolio of at least 20,000 hectares of land, in the next ten years.
The company’s growth plans come in the context in which in December 2019, Holde Agri Invest closed a private placement for its shares, attracting RON10 million from stock market investors.
During the offering period, the company placed 8,984,267 new ordinary shares, which sold for RON1,1135 per share; 27 investors participated in the offering and the average subscription reached approximately RON370,000. Following the private placement, Holde’s share capital will be increased to RON32.3 million.
SSIF BRK Financial Group was the intermediary of the transaction and the placement was carried out through the POFX trading system managed by the Bucharest Stock Exchange, meant for public offerings and private placements, according to company data.
The company’s shares will start trading on the alternative trading system AeRO of the Bucharest Stock Exchange six months since the closing of the private placement, namely, until the end of June 2020. Once listed on AeRO, Holde will be the first agribusiness company available for trading on the Bucharest Stock Exchange.
Holde was established in 2016 by Liviu Zagan, Robert Maxim, Matei Georgescu and Alexandru Covrig. After the closing of the private placement, Holde Agri Invest SA has 52 shareholders.
Vertical Seven Group remains the biggest shareholder of Holde, with a 19.6% stake, and the remaining investors own stakes of 9% to 0.1%, respectively. The business model provides that no shareholder should hold a majority participation in the company.
Source: ZFEnglish
