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Agroland Agribusiness lists 2 mln euro bond on Bucharest bourse

Agroland Agribusiness lists 2 mln euro bond on Bucharest bourse Agroland founder and general manager Horia Cardos Source: BVB

BUCHAREST (Romania), September 9 (SeeNews) - Romanian company Agroland Agribusiness [BSE: AAB] listed a 10 million lei ($2.4 million/ 2.02 million euro) bond issue on the multilateral trading system of the Bucharest Stock Exchange, the bourse said on Thursday.

The bonds are traded under the AAB26 ticker, the bourse said in a press release.

The company issued and sold in a private placement 100,000 corporate bonds of 100 lei each. During the private placement held in July, 110 investors subscribed - 7 qualified and 103 retail investors.

"The listing of AAB26 bonds is another step in our commitment to use capital market instruments to finance our development plans, which we have identified in this period of sustained growth that agriculture in Romania is going through," Agroland Agribusiness CEO Florin Radu said.

Agroland Agribusiness has been listed with the AeRO market since June 15, the second company in the Agroland Group listed on the exchange. The June listing was preceded by the running of a private share placement in which the company raised more than 6 million lei from investors.

Its parent company Agroland Business System [BSE: AG] went public on the AeRO market in March.

Agroland Agribusiness started operating in 2016 as a division of Agroland Business System, and since 2017 has been operating independently in both legal and financial terms. The company has two business lines: sale of inputs for conventional and organic agriculture and cereals trading.

Agroland Agribusiness shares traded flat at 102.95 lei on the BVB as at 1239 CET on Thursday. Agroland Business System shares chahnged hands 0.10% higher at 4.7750 lei as at 1141CET .

(1 euro=4.9482 lei)