Romanian winery Vifrana sees its shares up 11% upon BVB listing

The organic wine producer Vifrana on May 14 went public on the Bucharest Stock Exchange (BVB) Multilateral Trading System (MTS), under the ticker BIOW.

The price of its shares, at the end of the first trading day, was 11% higher than the price set in the private placement conducted by Goldring last year. As a result, the company’s market capitalisation reached RON 25.1 mln (EUR 5.1 bln) at the end of May 14.

Vifrana was established in 1998 and it reoriented towards the cultivation of vines and the production of wines in 2006, when the base of the organic vineyard was laid. Currently, the company produces organic wines and manages the Vifrana winery that processes the entire grape production from its own vine culture (129,19 ha) in the Adamclisi area, Dobrogea.

At the end of last year, the company carried out a private placement through which it sold a number of 21,220,322 shares (resulting in the sale of a 42% stake) at a price of RON 0.45 per share.

For 2020, Vifrana posted total revenues of RON 15.61 mln (EUR 3.29 mln) and a net profit of RON 1.46 mln (EUR 0.31 mln).

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