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Romania's Agricover Holding ponders IPO to finance expansion

Agricover Holding appointed Wood & Company for consultancy to explore financing options, including through an initial public offering of shares on the local market, followed by the listing of its shares at the Bucharest Stock Exchange (BVB).

The group needs financing to fuel its expansion, according to a report published at BVB, where its bonds are traded. No decision has been made regarding the preferred financing path, the company's management emphasized.

"Such a decision will be taken only after evaluating a number of criteria, including market conditions and feedback received from potential investors," the report reads.

Currently, Agricover Holding has a EUR 40 mln bond issue traded at BVB. The bonds were launched in 2021 and will mature in 2026. They carry a 3.5% coupon but are traded at a yield of 2.53%.

Agricover, founded in 2000 by Jabbar Kanani, has the European Bank for Reconstruction and Development (EBRD) as a significant institutional investor (12.7%) since 2017, while Adama Agriculture BV became a significant strategic investor in one of its subsidiaries, Agricover Distribution, in 2018, with a 10% stake. 

andrei@romania-insider.com

(Photo source: the company)

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The Capital Markets News section is powered by the Bucharest Stock Exchange 

 

BSE

 

 

Romania's Agricover Holding ponders IPO to finance expansion

Agricover Holding appointed Wood & Company for consultancy to explore financing options, including through an initial public offering of shares on the local market, followed by the listing of its shares at the Bucharest Stock Exchange (BVB).

The group needs financing to fuel its expansion, according to a report published at BVB, where its bonds are traded. No decision has been made regarding the preferred financing path, the company's management emphasized.

"Such a decision will be taken only after evaluating a number of criteria, including market conditions and feedback received from potential investors," the report reads.

Currently, Agricover Holding has a EUR 40 mln bond issue traded at BVB. The bonds were launched in 2021 and will mature in 2026. They carry a 3.5% coupon but are traded at a yield of 2.53%.

Agricover, founded in 2000 by Jabbar Kanani, has the European Bank for Reconstruction and Development (EBRD) as a significant institutional investor (12.7%) since 2017, while Adama Agriculture BV became a significant strategic investor in one of its subsidiaries, Agricover Distribution, in 2018, with a 10% stake. 

andrei@romania-insider.com

(Photo source: the company)

Normal
 

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