Agroserv Mariuta, the company that operates under the dairy brand Laptaria cu Caimac, took the first step on the Bucharest Stock Exchange on December 8th, where the company’s first bond issue was listed.
The bonds were listed on BVB’s Multilateral Trading System (SMT) and are traded with the MILK25E ticker.
Agroserv Mariuta carried out a private placement in November through which it sold bonds denominated in euros, worth EUR 3mn.
The bonds will reach the maturity on November 2025 and they have an interest rate of 5.25% p.a..
The private placement was oversubscribed, and the offer was supplemented, the interest obtained being the lowest financing cost obtained in 2020 for similar bond offers.
94 investors, both individuals and institutional investors, subscribed to the private placement.
Agroserv Mariuta is a company with integrated activity, comprising a field farm, on which it exploits 3,000 hectares of agricultural land cultivated with cereals and oil plants, and a cow farm, thus being a dairy producer. The cow farm has a herd of about 2,800 heads.
The company’s shareholders include Madalina Oana Cocan – 98%, Adrian Cocan – 1% and Nicusor Serban – 1%.
From June 2018 until now, Laptaria cu caimac has developed its distribution in numerous international store chains (IKA): Mega Image, Auchan, Cora, Kaufland, Carrefour, Profi, Selgros, Metro Cash & Carry, in independent networks shops in the country: Diana – Valcea and Gorj County, Panemar – Cluj County, Ana Pan – Bucharest, Fraher – Tulcea and in many grocery stores, convenience stores and traditional stores, but also in HoReCa.
Agroserv Mariuta ended 2019 with revenues of RON 63.2mn, up by 30% compared to the previous year. In the first half of this year, revenues amounted to RON 37.6mn, 40% above the level of the same period last year.
The company’s management estimates that revenues will reach almost RON 70mn in 2020, and this indicator will increase in the coming years, so that for 2025 it estimates total revenues of almost RON 142mn.