The Bucharest Stock Exchange (BVB) announced on Wednesday that DN Agrar Group, a Romanian entity operating in the agricultural sector started trading on BVB’s AeRO market under the stock ticker DN.
„DN Agrar Group attracted RON 24.7mln from investors in a private placement in July 2021. The funds are intended for the expansion of DN Agrar Group through farm acquisitions and group development,” said BVB according to a press release.
BVB stated that 117 individuals and legal entities subscribed for 13,631,408 new shares, with a nominal value of RON 0.2 and a subscription price of RON 1.81 per share, representing 25,7% of the share capital.
The private placement and the listing were carried out with the support of BRK Financial Group.
DN Agrar Group includes 11 companies operating in areas of livestock management namely raising dairy cattle, field crops production, services in agriculture, logistics, transport, consulting and management services and tourism. Lacto Agrar, a farm was recently taken over by DN Agrar Group with funds obtained from the private placement held in July last year.
DN Agrar Group registered in July 2021, a net turnover of RON 18.2mln, an increase of 62% compared to H1 2020 (RON 11.2mln). The group’s profit during this period was RON 2.1mln, up from the reported result for H1 2020 of RON 701,130.
The recently taken over Lacto Agrar farm registered, in H1 2021, a net turnover of RON 16.3mln and a profit of RON 1.2mln.