The Bucharest Stock Exchange (BVB) announced on Tuesday that the first bond issue of the Polish company, Aforti Holding has started trading on the Multilateral Trading System of the Bucharest Stock Exchange, under the stock market symbol AFH25, according to a press release.
Aforti Holding, a non-banking financial institution is listed on the New Connect market of the Warsaw Stock Exchange since 2011, under the symbol AFH. The funds attracted through the bond issue, worth RON 2mln will finance Aforti’s activity in Romania.
The bond issue is part of Aforti Holding’s expansion strategy in Central and Eastern European countries. The company has now made its first steps with bonds on the Bucharest Stock Exchange.
“We are glad that a company listed in Warsaw, on a market similar to BVB’s AeRO market chooses to use the local capital market to finance its activity in Romania,” said Radu Hanga, President of the Bucharest Stock Exchange.
Aforti Holding attracted from 44 investors the total amount of RON 2mln (€412,000). The bonds have a maturity date on September 4, 2025, and an annual interest rate of 10%, with a half-yearly payment. The private bond placement and listing were done with Goldring support. In the last four years, the Aforti Group has carried out bond issues and promissory notes in a total value of €45mln.
Aforti Holding has been active on the Romanian market since 2017. Aforti Holding is currently active in Poland, Romania, Bulgaria, Lithuania, Cyprus and plans to expand, by 2023, to Latvia, Estonia, Croatia, Hungary, the Czech Republic, and Slovakia.
The Aforti Group recorded in 2020 a net turnover of €221.8 mln and a net profit of almost 805,000 euros. In the first half of 2021, at the group level, consolidated revenues increased by 214% compared to the first half of the previous year, while operating expenses increased at the same rate.