In November 2020, the company carried out a share capital increase, through cash contribution via a private placement intermediated by Tradeville. The private placement was closed early on the first day, with the value of subscriptions reaching EUR7.9 million, nearly fivefold higher than the value of the Offer. The stock sales price within the placement was RON4.5 per share. Upon the placement, Agroland reached a capitalization estimated at EUR10 million.
On February 11, 2021, Agroland Business System summoned the extraordinary general meeting of shareholders to approve the transformation of Agroland Agribusiness from a limited liability company into a joint-stock company. Other issues on the agenda aimed to increase the share capital of Agroland Agribusiness by RON22,500, up to RON112,500, in order to offer the new shares for subscription within a sale offer via private placement. Upon becoming a joint-stock company, Agroland Agribusiness could issue, via private placement, bonds worth a total EUR20 million, with a maximum interest of 9% and a maturity of minimum three years and maximum seven years,
End-2020, Agroland had some 250 traditional stores, with areas of 50 sqm to 150 sqm, serving 400,000 clients annually. In February 2021, Agroland Business System opened its first MEGA store this year, out of eight planned, in a EUR500,000 greenfield investment excluding inventory. The company estimates the store will have annual sales revenue of EUR1 million starting 2022.
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.