Agro-tech company starts trading on Bucharest Stock Exchange

The shares of Norofert, the largest Romanian producer of organic fertilizers, started trading on the AeRO market of the Bucharest Stock Exchange (BVB) on March 3.

The average trading price in the first trading session puts the company's market capitalisation at about RON 24.2 mln (EUR 5 mln), 21% over the valuation of the company in July 2019, when it raised RON 7.25 mln (EUR 1.5 mln) in a private placement.

"This listing was delayed more than we expected. We compensate for this by an extremely attractive price-to-earning (PER) ratio of 4.5, and a dividend policy that allows us to maintain the capitalization in the company. We also offer the investors the possibility of holding shares in a company that is fairly valued, that boasted robust growth so far and, perhaps most importantly, that is scalable,” said Vlad Popescu, CEO and president of the board of Norofert Group.

Norofert recorded a turnover of RON 14.8 mln (EUR 3.1 mln) in 2019, 59% higher than in 2018, while the net profit rose by 12% to RON 4.6 mln (nearly EUR 1 mln), according to the company’s preliminary results.

(Photo source: the company)