Holde Agri Invest, a Romanian holding company that aims to become a major player in agriculture with a portfolio of at least 20,000 hectares of land operated over the next 10 years, has successfully closed the private placement offer for its shares, attracting RON 10 million (EUR 2.1 mln) from investors on the Bucharest Stock Exchange (BVB), Profit.ro reported.

The offer took place between December 16 and 23, 2019.

The company sold close to 9 million new ordinary shares, at RON 1.1135 per share, to 27 investors. The average investment was thus about RON 370,000 (EUR 77,500). As a result of the private placement, Holde's share capital will be increased to RON 32.3 mln (EUR 8.3 mln).

According to the information provided in the Offer Document, the company’s shares will be traded on the AeRO market of the Bucharest Stock Exchange within 6 months from the closing of the private placement.

The capital raised in the private placement will be used for the acquisition of agricultural farms. Once the investments are completed, Holde Agri Invest will have at least 7,000 hectares of land in operation. Its ten-year investment plan envisages investments in amount of EUR 50 mln.

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