“The audit and accounting services market complements the range of services in the company’s portfolio, which is in full agreement with our vision that entails the continuous horizontal development, adding new services complementary to existing services”, said Andrei Botis, CEO Appraisal & Valuation SA.
In the first half of 2021, Simad Contex reported a profit of 20% of the turnover and forecasts for the end of 2021 fall into an upward trend, therefore, the net result is expected to near 30% of the turnover, according to Appraisal & Valuation representatives.
The shares of Appraisal & Valuation will start trading on the alternative trading system AeRO of the Bucharest Stock Exchange, under the ticker symbol APP, on September 2, 2021.
The listing of Appraisal & Valuation shares comes after in June 2021, the company carried out a private placement of shares, for its share capital increase. The company issued 387,000 new shares, sold at a price of RON11.5 per share, managing to raise funds worth RON4.45 million from capital market investors. During the placement, 115 investors subscribed to the offer, out of which 19 qualified and 96 retail investors. The private placement and listing were made with the support of TradeVille.
Appraisal & Valuation had a turnover of nearly EUR1 million (EUR4.9 million) in 2020.
The company was established in 2010, as a limited liability company, and on May 6, 2021, its legal status was changed into joint-stock company. Appraisal & Valuation has been the exclusive representative of NAI Global in Romania since 2012. The company has continued its development and in 2019, it opened a unit in the Republic of Moldova, through the company Activ Global Properties SRL, headquartered in Chisinau, which provides appraisal services across Moldova. In 2020, the unit became a NAI Global partner in Moldova.
In May 2021, Appraisal & Valuation signed a strategic partnership with Transilvania Broker, the fourth largest player on the Romanian insurance brokerage market, providing appraisal services exclusively to TBK clients, thus contributing to accessing the insurance market and, implicitly, some new client categories.
NAI Global is a global commercial real estate brokerage firm focused on buying, leasing, selling, financing and managing commercial property. It has 5,000 professionals and 375 offices across 55 countries.
Appraisal & Valuation SA is a corporate member of the National Association of Licensed Appraisers (ANEVAR)