The share capital increase was voted unanimously and will support the company’s development plans in 2019.
Established in 2010, Elefant expanded its operations outside Romania, by opening a showroom in Chisinau (the Republic of Moldova) and a local online store elefant.md.
As per a document published in the Official Gazette, Millennium Gold Resources Limited will be able to subscribe 55,713 shares; Catalyst Romania will be able to subscribe 9,110 shares and Olif will be able to subscribe 28,421 shares.
Elefant Online reported a turnover of RON130.9 million (EUR28.7 million) in 2017, up 16% on the year, and a net loss of RON21.7 million (EUR4.8 million), up 29% on the year. On December 31, 2017, the company had total debts of RON61.7 million (EUR13.5 million), up 22.2% on the year.