What could have been the largest initial public offering in the Central and Eastern Europe after the start of the war in Ukraine and would have thawed the IPO market in the region failed.
After more than 24 hours from the end of the retail subscription and after a Wednesday with many hours of tense talks, Agricover decided to make a statement to the public after 6 p.m., via a report to the Bucharest Stock Exchange.
“Agricover Holding S.A. informs investors that the criteria for the successful closing of the offering provided in the offering prospectus were not fulfilled and, therefore, the offering has not been finalized with a transaction, in accordance with the provisions of art. 38 of the FSA Regulation no. 5/2018 on issuers of financial instruments and market operations.
Furthermore, considering the above, Agricover Holding S.A. shall not file with the Financial Supervisory Authority the application for registration of the shares representing the current share capital of the company as financial instruments and shall not file the final application with the Bucharest Stock Exchange for the admission to trading,” the company said in its report.
(English version by Loredana Fratila-Cristescu)