The report published at the bourse presents the nominal value of the hike, RON45 million, from RON189 million to RON234 million, but the value of the offering will be different.
The agenda of the Extraordinary General Meeting of Shareholders includes the following point: “Approval of the Increase to be carried out exclusively through cash contributions, in order to support the development and growth plans of the Company and its group entities”.
The company’s board of directors will also decide the maximum price and the issue price, as well as the IPO structure, with Agricover due to issue „a maximum of 450,000.000 new, ordinary, nominative shares, issued in dematerialised form, each with a nominal value of RON 0.10/share.
Agricover generated RON1.71 billion turnover in 2021, up 50% from 2020, while operating profit reached RON117 million, up 36% year-on-year.
Agricover had a portfolio of over 9,000 active farmers, exploiting over 2.6 million hectares of arable land in Romania.
The first half of 2022 brought the company consolidated revenues worth RON1.3 billion, double the 1H/2021 level, and operating profit of RON72 million, up 46%.
Net profit climbed by 51% to RON53 million.
In the spring of 2021, the group listed EUR40 million bonds on the BVB, the biggest entrepreneurial funding on the local capital market at that time.
(English version by Catalina Apostoiu)