Starting Thursday, Agricover Holding is launching an initial public offering (IPO) with the aim of listing on the Bucharest Stock Exchange. It will last until May 16.
The offer includes a maximum number of 277,777,778 new shares as part of the share capital increase, as well as up to 555,555,555 existing ordinary shares held by the company’s current substantial shareholders, namely Jabbar Kanani and the European Bank for Reconstruction and Development.
The IPO is aimed at institutional and retail investors in Romania. This is also an offer intended for eligible investors from outside Romania.
If the offer is successful, admission to the BSE regulated market is sought.
Agricover Group was founded in 2000 by Jabbar Kanani. In 2017, the European Bank for Reconstruction and Development became an institutional investor, which currently owns 12.727% of the company’s share capital.
Also in 2019, Adama Agriculture BV became a significant strategic investor in Agricover Distribution SA, owning 10% of the subsidiary’s share capital.
Today, the group consists of companies serving the agribusiness sector in Romania.
Source: Hot News
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