The Bucharest Stock Exchange (BVB) announced on Thursday that Appraisal & Valuation, a company that offers appraisal, consulting and real estate development has gone public on the AeRO market and trades under the APP ticker, according to a press release.
The listing of Appraisal & Valuation follows the private placement of new shares held in June 2021. The company issued 387,000 shares at RON11.5 per share and managed to attract RON 4.4mln from the capital market for expanding its services and creating new divisions.
The private placement and the listing were possible with the support of TradeVille and the company is well known on the market for NAI Romania
Appraisal & Valuation founded in 2010, intends to continue to use the funding mechanisms available on the stock market by issuing corporate bonds and distributing free shares to its shareholders. Appraisal & Valuation is currently active on the market in Romania and the Republic of Moldova.
In 2020 the company turnover was RON 4.84mln, slightly less than in 2019 when the turnover was RON 5.03mln. Of the total turnover, evaluation and consulting services accounted for the greatest share in 2020, at RON 4.78mln, or 98.9%, respectively.
The turnover structure reflects income from leases, accounting for a smaller share of total revenues and income from the sale of apartments, which were on a decreasing trend between 2018 and 2020. The net company profit in 2020 was more than RON 610,000, a significant increase in 2019 when the net profit was RON 357,480.
The company announced that they will invest about EUR 2mln in consolidating another business segment, the development of residential properties on land owned by the group companies, in Bucharest and the surrounding area.
For 2021, the company estimates an increased turnover compared to 2020, of up to RON 6.15mln and a profit equal to 2020.