Romanian agri holding raises EUR 2.4 mln in private share placement

Holde Agri Invest, a Romanian farm operator, raised RON 12 million (EUR 2.4 mln) from investors in a private placement that ended on Friday, within less than 48 hours.

The offer was 20% oversubscribed. Holde thus attracted about RON 2 mln from existing shareholders and about RON 10 mln (over EUR 2 mln) from new investors.

The intermediaries of the offer were Goldring and BRK Financial.

The money raised will go in three main directions: expanding the portfolio of farms, expanding the storage capacity, and starting the irrigation projects already planned.

Holde raised another RON 10 mln (EUR 2 mln) from investors in a previous private placement in December 2019. The company will be listed on the Bucharest Stock Exchange (BVB) by the end of the year, most likely in autumn.

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