Agrana Romania’s share capital hike is among the largest share capital hikes with cash inflow developed by a company listed on the Bourse in 2015.
Agrana, a company with annual revenue of almost RON1 billion, is among the largest sugar producers on the local market, with an estimated market share of around 45%. On the Romanian market, Agrana also owns two sugar refineries in Buzau and Roman and markets sugar products under the brands Margaritar and Coronita.
Agrana Zucker is the largest sugar producer in Central and Eastern Europe. The company also supplies starch-based products, fruit preparations for the dairy industry and fruit juice concentrates.
In the general stockholder’s meeting August 20, the company’s stockholders approved the share capital hike by RON72.2 million, at RON86.7 million through cash inflow from stockholders. The share capital hike will be developed by issuing 722 million new shares, without issuance premium, each with a face value of RON0.1. The company will designate a broker for the share capital hike.
Austria’s sugar processor Agrana Zucker owns 91.81% of Agrana Romania and the Romanian privatization authority AAAS holds a 4.05% stake. Thus, Agrana Zucker will have a RON66 million inflow in the share capital hike, while AVAS, RON2.8 million, in order to keep their shares. Investors on the Bourse own the rest of 4.1% in the company’s share capital.
The company did not explain the reason for the share capital hike.
In 2014, Agrana Romania posted RON955.7 million revenue, down 21% from a year before, while the loss decreased 37%, to RON65 million.
The company’s major clients are Magyar Cukor, majority owned by Agrana group, Coca-Cola Hellenic, hypermarket network Carrefour, Lidl and Metro Cash&Carry.
(English version by Manuela Panescu)