Agroland attracts RON 14.7 M from investors, concludes operation to increase the share capital

0

Get real time updates directly on you device, subscribe now.

Agroland Business System (BVB: AG), the Romanian retail, agriculture and food entrepreneurial group, which owns the largest network of agricultural stores in Romania, announces the end of the operation to increase the share capital and attract a total amount of approximately 14.7 million lei from investors. The capital raised will be used to further develop all Agroland business lines.

During the first stage of the share capital increase operation, SevenX Ventures, an investment vehicle owned by Leonard Leca and Iulian Cîrciumaru, acquired a 3% stake in Agroland – 1,553,720 shares. The company is also a significant shareholder in Holde Agri Invest. Following this transaction, Leonard Leca will be actively involved in Agroland and will also be proposed for a position on the Board of Directors to be appointed at the GMS in April 2022.

In April 2021, Agroland approved the increase of the share capital by issuing 4,708,236 new shares. The operation was carried out in two stages, at the end of 2021 and the beginning of 2022. In the first stage, which took place between 15.12.2021 and 13.01.2022, the existing shareholders had the opportunity to buy newly issued AG shares based on the rights preferably AGR01. At the end of this stage, the investors subscribed a total of 3,990,956 shares out of the total available, representing 84.77% of the total issue, and the company attracted 12.3 million lei. The shares had a nominal value of 0.1 lei and were offered at a price of 3.07 lei / share.

The amounts raised during the share capital increase operation will support the company, mainly for the development of the Agroland MEGA store network, the expansion of the Avicola Mihăilești platform by increasing the production capacity of day-old chicks to a capacity of 1,000,000 eggs. incubation per month and increase the production capacity of eggs for consumption to a minimum of 180,000 eggs per day. Another part of the attracted capital will be used for the modernization of the feed factory in Caransebeș.

- Advertisement -

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More