The maximum value approved by the Extraordinary General Meeting of Shareholders on October 17, 2022 was RON15 million, which means the company raised one third of its target.
“The amount raised from the subscription of the bonds will be used to fund day to day operations and/or current and future investments, and/or refinance of financial obligations and/or working capital to support the company’s strategic business plan,” the report of the Board of Directors says.
Electroarges started working with China’s Haier, which opened a refrigerator plant in Romania at the end of last year. The company makes components for its Chinese partner and the two started working together after the Electroarges-Kärcher partnership, which generated 85% of Electroarges’ revenue, ended in 2021.
(English version by Loredana Fratila-Cristescu)