Romanian organic wine producer Vifrana successfully closed on Monday a private placement of shares through which it drew RON 9.55 million (close to EUR 2 mln) from local investors, Ziarul Financiar reported.

The company will list its shares on the Bucharest Stock Exchange’s AeRO market, most probably in May next year, according to local brokerage firm Goldring, which managed the placement.

Vifrana is the biggest producer of organic wine in Romania in terms of cultivated area, with 130 hectares of organic vines near Adamclisi, in the Dobrogea region. It is also one of the biggest local exporters of organic wine.

The company estimates a turnover of RON 5.1 mln (EUR 1.05 mln) this year, up by 26% compared to 2019, and a net profit of RON 2.33 mln (EUR 0.48 mln), down 11% year-on-year.

(Photo: Pixabay)

andrei@romania-insider.com