The private placement was brokered by TradeVille.
Although the private placement was scheduled for the November 18- December 2, 2020 period, it closed on its first day, considering an oversubscription of 385% above the value of the offer.
The total shares subscribed was 4.85-fold higher than the initial offer of 1,765,590 shares and a total 139 subscriptions was registered. The allocation method used was pro-rata and the sale price was RON4.5 per share. The minimum subscription reached RON99,000, the equivalent of 22,000 shares.
The company said that after the private placement, it would be listing the shares on the Multilateral Trading System of the Bucharest Stock Exchange.
Agroland currently has some 250 traditional stores covering 50 square meters to 150 square meters and serving 400,000 customers annually.
Agroland had a turnover of RON121 million in the first half of 2020, up 18% on the year, and a net profit of RON8.4 million, up 59% on the year, per stock market data.