Grup Serban Holding went public on the AeRO market and attracted almost RON 13mn for business developing

2/28/2022

Grup Serban Holding, a Romanian entrepreneurial company active in several fields in agriculture, debuted today, February 28, on Bucharest Stock Exchange’s AeRO market under the GSH stock ticker. The stock market debut takes place after attracting from the capital market investors RON 12.7mn, funds that will be used for the development of the group and the launch of new products. Grup Serban Holding started its activity in 1994, in Onesti. Currently, the group's business has several directions of development, such as agriculture, trade in cereals, oil plants and vegetables, poultry farming, bakery, pastry-confectionery, own chain of stores - Serban Groceries, distribution and transport.

‘Grup Serban Holding is a reference company for Romanian agriculture, both as a producer of raw materials and as a processor, with diversified business lines. The presence of such a company on the exchange is certainly an asset both for us and for BVB’s investors. The listing takes place in a difficult and unpredictable regional context, but the local capital market and our investors have managed so far to demonstrate maturity and resilience’, said Radu Hanga, Bucharest Stock Exchange President.

‘Agriculture is one of Romania's main drivers of development, and today marks a new chapter for our business. The Grup Serban brand was built in over 27 years of existence. During this time, we expanded our activity in several development directions related to agriculture, and we became a local company with a turnover approaching 100 million euros. I am confident that capital market investors will be a long-term partner for us. Together, we will further develop our business lines in the coming years through efficient investments in sustainable agricultural projects at the highest quality standards. We plan to invest approximately 250 million lei in the next ten years in expanding our operated land, poultry farms, irrigation systems, production facilities, as well as storage capacity. We thank the investors for the trust placed in our projects, and we hope that starting today, more and more GSH shareholders will join us’, said Nicolae Serban, Grup Serban Holding founder and CEO.

Grup Serban Holding carried out a private placement of shares on December 8, 2021, in which 80 investors participated, out of which 18 qualified investors and 62 retail investors. The company issued 5,974,247 shares in the share capital increase operation, with a nominal value of RON 1, at a price of RON 2,12 per share. The anticipated market capitalization of the company is RON 359.3mn. The private placement and the listing were carried out  with TradeVille’s support, while Cornerstone Communications will assits the issuer after listing as Authorized Advisor.

‘We are happy to see that Romanian agriculture is gaining more and more solid roots on Bucharest Stock Exchange. TradeVille is pleased to be able to bring to the attention of BVB investors the shares of the largest agricultural producer in the area of Moldova, Grup Serban Holding. Its integrated operations are a model that we want to see more and more in our country, so that we can produce locally and even export mainly high value-added products instead of raw materials. With companies like GSH we have reason to be optimistic in this direction, and TradeVille team is proud to have played an important role in financing such a business’, said Ovidiu-George Dumitrescu, CFA, TradeVille Deputy CEO.

Grup Serban Holding currently operates over 12,000 hectares of arable land in Vaslui, Vrancea and Bacau counties. At the end of 2020, at group level, there were 350 employees. In 2020, Grup Serban Holding registered at a consolidated level a turnover of RON 311.8mn and a net profit of RON 24mn. In H1 2021, the company's turnover was RON 121.6mn, an increase of 19% compared to H1 2020. The consolidated net profit for the first six months of 2021 was RON 4.9mn, an increase of 37.4% compared to H1 2020.