Per calculations by Ziarul Financiar, the company seeks to raise RON29 million from stock market investors.
“In the first stage, the investors will be able to purchase newly issued shares based on the number of preference rights. To subscribe a new share, 1.773458142857143 preference rights are required, with rounding off to the nearest inferior natural number. The pre-emption rights, symbol HAIR01, were loaded in the shareholders accounts on 05.04.2021. The preference rights will be traded on the MTS-AeRO market of the Bucharest Stock Exchange, between May 25-31”, the stock market report reads.
The first stage will be carried out between June 4 and August 3, 2021 and the report on closing the first stage will be released on August 5. The Class A shares that remain unsubscribed after the first stage will be offered through a private placement at a price ranging from RON1.39/share to RON1.55/share, which will be held between August 6 and 19, 2021.
The price per Class A share in the first stage of the transaction, has been established at RON1.38/share. The price per share includes the share nominal value (1.0 RON) and the issue premium (RON0.38). “The price was calculated using the formula as specified and agreed by shareholders in the Resolution of the members of the Board of Directors of Holde Agri Management S.R.L. from 16.03.2021, namely the weighted average price per Class A Share for the period of 60 days prior to the date of submission of the Prospectus to the ASF, with a discount of 20%. The Prospectus was submitted to ASF on 05.05.2021. The price per Class A share was established according to the math formula: Issuance price = weighted average price of Class A share for the last 60 days * 0.80) + 0.01 lei”, the report also shows.
Per calculations by Ziarul Financiar, the subscription would offer investors a yield of 16% relative to the current trading prices.
The share capital increase operation was approved by the decision of Holde Agri Management S.R.L., the Sole Administrator of the Company, issued on March 16, 2021. The share capital increase operation is carried out in accordance with the resolution of the Company’s Extraordinary General Meeting of Shareholders dated February 12, 2021. The Prospectus was approved by the Romanian Financial Supervisory Authority (ASF) on May 19, 2021, as stated in Decision 659/20.05.2021.
Holde Agri Invest has a market capitalization of RON68.9 million. Its shares have been trading up 19.94% since the beginning of 2021, amid deals worth RON12.8 million, per stock market data.