Innovative Romanian agri firm seeks to raise EUR 1 mln by private placement
Norofert Group, which controls 30% of the local organic fertilizer market, will list its shares on the AeRO market administered by the Bucharest Stock Exchange in the second quarter of this year.
The company aims to raise EUR 1 million through a private placement, which will take place this spring. Immediately after the transaction, the company will initiate the procedures for listing Norofert shares on the AeRO market, becoming the first agro-tech company listed on the Bucharest Stock Exchange. The company's estimated free-float will be about 30-40%.
Neofert will use the capital attracted in the private placement to build a new factory in Constanta County and increase the sales team. The company also plans to equip and open a laboratory that will enable it to develop its own strains of bacteria and micro-organisms and stop importing such inputs from outside Europe.
(Photo source: Facebook / Bursa de Valori Bucuresti)