RAIKO Transilvania closes private share placement on Bucharest bourse

During the private placement, which run for 3 days between February 13-17, the company sold 800,000 shares for 1.05 lei per share, it said in a press release.

A total of 20 retail and institutional investors participated in the offer, which was run by brokerage house Tradeville.

The capital raised during the placement will be primarily directed into purchasing materials and goods to increase the production and sales capacity to meet the growing demand for RAIKO products, especially on the foreign markets.

This was the second capital markets operation for RAIKO Transilvania, which in July 2019 sold 1 million new shares in a private placement and attracted 1.05 million lei from 29 investors.

The company’s shares are yet to float on the AeRO market of BVB and the management aims to finalize all the procedures for admission to trading by the end of the first half of 2020. Once it floats on AeRO, RAIKO will be the second company with majority Polish capital to be listed on the BVB, after Carpathia Capital listed on the AeRO market in 2015.

RAIKO is a Romanian company established in 2014 in Capusu Mare, Cluj county, by Tomasz Kurcin, who is currently chairman of the company's board. Following the closing of the second private placement, Tomasz Kurcin together with his wife, Katarzyna Wieszczek-Kurcin, hold an estimated 53% of the company while the company’s free-float amounts to 47%.

(1 euro=4.7834 lei)