The prospectus is to be publicly available over the coming period. It contains the company valuation and the main features of the offering.
The offering includes up to 833 million shares, 278 million of which as capital increase, up to 151 million sold by the European Bank for Reconstruction and Development (EBRD) and up 404 million by majority owner Jabar Kanani. The subscription price: no more than RON0.5 for retail investors and any price lower or equal to RON0.5 for institutional investors. The broker of the IPO is Wood and Tradeville is the distributor.
A few weeks ago, Agricover announced it was looking for a free float of 40%, which means that judging from the data published on the corporate website about ASF’s approval of the IPO, the valuation of the company is about RON1 billion.
(English version by Loredana Fratila-Cristescu)