Elefant Online returns to the Bucharest Stock Exchange with a new bond issue

2/1/2022

  • The online retailer Elefant Online has a new bond issue worth around RON 17.5 million trading on the Multilateral Trading System under the symbol ELF26, starting from February 1st
  • This is the second bond issue of Elefant Online listed on the Bucharest Stock Exchange. The bonds related to the first issue from 2018 were paid back in full on time on September 27, 2021.

 

Elefant Online, one of the main e-commerce platforms on the local market through elefant.ro, returns to the Bucharest Stock Exchange with a new bond issue, worth RON 17,469,900. The bonds will be traded starting February 1st on the Multilateral Trading System of the Bucharest Stock Exchange ( BVB) under the symbol ELF26. The listing of the bonds follows a private placement from November 2021, when corporate, unsecured, registered, unconditional, non-convertible, denominated in RON bonds were issued to 122 investors. The private placement and listing of the bonds were done with the support of the brokerage company Tradeville.

This is the second bond issue of Elefant Online listed on the BVB. In 2018, Elefant was the first company in its industry to issue bonds through a private placement, then listed them on the stock exchange. The issue at that time consisted of 76,514 bonds with a nominal value of RON 100 / bond and a fixed interest rate of 9.00% / year. The bonds were paid back in full on time on September 27, 2021.

„Recurring financing of a company, through the various types of financial instruments and mechanisms provided by the capital market, demonstrates how important the role of the stock market is in giving companies access to the capital they need so much. The fact that Elefant, a company operating in such a competitive and dynamic field as online commerce, has chosen to return to the stock market with a new bond issue to finance its development plans fully demonstrates the usefulness of the capital market in supporting the local companies,” said Radu Hanga, President of the Bucharest Stock Exchange.

„Elephant has entered a new stage, transforming from an online mall dedicated to the family into a marketplace. We aim to accelerate this new business as soon as possible in order to offer to our buyers a much wider portfolio of products, and to our partners and sellers a good channel for business development. The financing round held at the end of 2021, in which both the current shareholders and the investors in the private bond placement participated, was necessary to approach this new development direction with agility. Listing bonds on BVB is a natural step at this stage,” stated Sergiu Chirca, General Manager Elefant Online.

The private placement in November last year and the listing of the bonds were done with the support of the brokerage company Tradeville.

„Today’s listing is one of the times when we are happy to note that high profile issuers, such as Elefant Online, are returning to the stock market for financing after the recent repayment of a bond issue initiated more than three years ago. It is an honor for Tradeville to assist companies that have become benchmark names in the Romanian economy, and even in everyday life. We wish Elefant a lot of success and hope that in the years to come we will continue the path we began together in the stock market world,” said Ovidiu Dumitrescu, Deputy General Manager Tradeville.

The e-commerce platform elefant.ro was established in 2010 as an online bookstore focused on middle-priced products. In the following years, the site became a real “online mail” offering a diverse range of products. Since 2015, Elefant has opened order pick-ups in the country to increase customer delivery options. A year later, Elefant went abroad, opening elefant.md in the Republic of Moldova. Since 2020, the company has launched a marketplace platform through which both small commercial companies and larger retailers can join as partners to benefit from the company’s online platform and logistics services.