Vifrana wants to increase its capital by 1.3 million lei

The management of the producer of organic ecological wine Vifrana summoned the shareholders, for June 25, with the proposal to increase the company's capital by the amount of up to 1.3 million lei, according to a report of the issuer published, yesterday, on the website of the Stock Exchange Bucharest (BVB).

The operation involves the issuance of no more than 6.64 million new shares, at the nominal value of 0.2 lei per share, in two phases.

In the first stage, the new titles will be offered for subscription based on the exercise of the pre-emptive rights of those who will be Vifrana shareholders on the registration date, which is proposed for July 12. "The period for exercising the preferential rights will be 31 days and will be established by the Offer Prospectus related to the operation of increasing the share capital, in the form in which it will be approved by the Financial Supervisory Authority", the report states .

The pre-emptive rights will not be tradable, each shareholder will receive a number of pre-emptive rights equal to the number of shares held on the record date. For every 100 reference rights held, a shareholder will be able to subscribe to 13 new titles, according to the company's BSE filings.

In a second stage of the increase of the social capital, the shares remaining unsubscribed in the first stage of exercising preferential rights will be offered in a private placement, it is mentioned in the convening letter.

"The purpose of the increase in the share capital is to obtain funds to finance the company's current activity", the BVB report states.

Last year, the wine producer had operating income of 9.5 million lei, 1% below those of 2023, and a loss of 0.38 million lei, lower than the previous year's loss of 0.56 million lei. Yesterday, at 4:30 p.m., the company's shares, which are listed on the AeRO Market of BVB, were traded at the price of 0.154 lei.

Vasile and Eugenia Frâncu own 61% of Vifrana, a company whose stock market valuation amounts to approximately 7.8 million lei.