RO valuation firm raises EUR 0.9 mln in private placement of shares

Appraisal & Valuation, a Romanian valuation company operating from 2010 under a franchise (NAI Romania) extended by the US firm NAI Global, raised RON 4.4 mln (EUR 0.9 mln) by issuing a package of shares accounting for 29% of its ex-post total number of shares.

The new shares will be listed on the Bucharest Stock Exchange (BVB) on the alternative market AeRO under the ticker APP.

The private placement puts the company's value at RON 15 mln (EUR 3 mln), Economica.net reported.

Appraisal & Valuation will use the funds derived from the private placement to finance and develop the current activity, including by creating new divisions, possible acquisitions, and expanding digital services and platforms both locally and internationally.

"By capitalizing on the funding obtained on the capital market, we aim to expand our business in the market of valuations and related services, while the status of a listed company will help us strengthen our team by attracting the best professionals in the market," says Andrei Botiș, CEO and founder of Appraisal & Valuation.

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