By noon Thursday, two hours into the session, Raiko shares were trading at RON4.88 per share, 364% higher than the private placement price, and the company reached a market capitalization of RON20 million, five times higher than anticipated following its latest private placement.
Prior to listing on AeRO, Raiko Transilvania carried out two private placements, in July 2019 and February 2020, and attracted almost RON1.9 million to finance current activities and potential expansion.
Raiko has a share capital of RON4.1 million, divided into 4.1 million shares at a nominal value of RON1/share.
TradeVille assisted both private placements and the company’s listing on the AeRO market as authorized consultant. TradeVille will continue to assist Raiko Transilvania for the next 12 months after its listing to meet investor reporting and information requirements.
“We are thrilled to be finally listed on Bucharest Stock Exchange and to be the first ever Polish entrepreneurial business that chose the Romanian capital market route. I would like to thank all the investors who believed in our story and who have thus far invested in RKOT shares. We believe that the AeRO market offers to unparalleled advantage that will help us develop our European business at an accelerated pace,” said Tomasz Kurcin, founder and sole administrator of Raiko Transilvania.
Established in 2014, in Capusu Mare (Cluj county), Raiko Transilvania manufactures drainage systems and produces, sells and distributes complete high quality roof systems and photovoltaic roofs. The company’s products are present in 22 outlets on three continents, of which the most important markets are Sweden, Finland, Lithuania, Latvia, Estonia, Russia, Belarus, Ukraine, Czech Republic, Romania, and Slovakia.
In the first half of 2020, Raiko had a turnover of RON2. Million, 31% higher on the year, and a net profit of RON83,000.
It estimates sales will increase to RON10.3 million in 2021 and to RON13.4 million in 2022. The company estimates its net profit will grow to RON414,000 in 2021 and to RON539,000 in 2022.
For the next five years, Raiko Transilvania aims to reach a market share of 10% from 3.25% in 2019.