The bonds will mature in five years and come with a fixed interest of 9% per annum paid every quarter.
This is the fourth corporate bond issue listed on the AeRO. Frufru issued 45,592 bonds at RON100 each and worked with BRK Financial Group on the issue.
“When we started ten years ago, there was no market for frufru. We created it. We created the food we wanted to eat, which should also be affordable,” said Mihai Simiuc, general manager of Good People.
The company posted RON17.5 million revenue in 2015, an increase of 77% on 2014, while net profit stood at RON448,860, down from the RON1.7 million of 2014. Debt amounted to RON3.8 million.
Good People estimates 2016 revenue to reach RON26.5 million and net profit RON4.2 million.
Frufru has 80 employees and operates 200 fresh corners. It expects the number of fresh corners to grow to more than 600 in three years.
(English version by Loredana Fratila-Cristescu)