Raiko Transilvania closes private share placement on Bucharest bourse

Romanian guttering systems manufacturer Raiko Transilvania said it has raised 840,000 lei ($190,500/176,000 euro) via a private placement of shares on the Bucharest Stock Exchange, according to SeeNews.com.

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.

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