You have 3 free articles left this month. Get your free Basic subscription now and gain instant access to more.

Organic wine producer Vifrana lists on Bucharest bourse

Organic wine producer Vifrana lists on Bucharest bourse Source: BVB

BUCHAREST (Romania), May 14 (SeeNews) - Romanian organic wine producer Vifrana on Friday started trading on the alternative market of the Bucharest Stock Exchange (BVB), AeRO, the bourse announced.

The wine maker's shares were listed under the BIOW ticker, the bourse said in a press release.

The company aims to develop its presence in foreign markets like Germany, the Netherlands, Sweden and the United Kingdom, where organic products sales increased by 20% in 2020, and the growth of the bio sparkling wines market is estimated at 47%.

The next step is to strengthen Vifrana's international presence by stepping on new foreign markets in addition to those where it currently operates successfully, Vifrana general manager and board of directors chairman Octacian Vucmanovici said.

The company's listing follows a private placement held at the end of 2020 through which Vifrana attracted 9.5 million lei ($2.33 million/1.93 euro) from investors.

The company sold to investors some 21.22 million shares at a price of 0.45 lei per share.

Vifrana was established in 1998 and it reoriented towards the cultivation of vines and the production of wines in 2006, when the base of the organic vineyard was laid.

Currently, the company produces organic wines and manages the Vifrana winery that processes the entire grape production from its own vine culture of 130 ha in the Adamclisi area, Dobrogea.

Vifrana estimates that it booked a 5.4 million lei turnover last year. The company recorded a 34% increase in the number of wine bottles sold in the first quarter of this year, as well as a 97% surge in rose wine sales.

Vifrana shares traded at 0.51 lei as at 1322CET on Friday.

(1 euro=4.9253 lei)

Share this story
SeeNews in Brief

View our Newsletters