RO farming group Holde Agri closer to EUR 40 mln financing after listing
Holde Agri Invest, a Romanian group of companies active in agriculture that recently listed its shares on Bucharest Stock Exchange, will contract several loans and financing facilities in a total amount of over EUR 38 million, Profit.ro reported.
Its market capitalization is currently RON 58 mln (EUR 12 mln).
Nine companies under the Holde umbrella will contract the financing. They will use the funds for working capital, the purchase of agricultural equipment, land, storage capacity, base upgrades, and fuel.
The group's shareholders approved the operation in early September. Holde Agri Invest was set up in 2016 by four Romanian entrepreneurs: Liviu Zagan, Robert Maxim, Matei Georgescu, and Alexandru Covrig. In 2017, the founders joined forces with local asset management company Certinvest. Together, they established the innovative business model behind Holde Agri Invest in 2018.
Soon, the company attracted an external investment from Vertical Seven Group, founded by entrepreneurs Iulian Circiumaru and Andrei Cretu, and then bought its first farm.
Before its listing on the Bucharest Stock Exchange's ArRO market, Holde attracted RON 22 mln (EUR 4.5 mln) from investors through two private placements, in December 2019 and June 2020.