| Project Detail |
Location:
Romania
Project number:
55507
Business sector:
Telecommunications, Media and Technology
Notice type:
Private
Environmental category:
B
Approval date:
02 Jul 2024
Status:
Signed
PSD disclosed:
15 Jul 2024
As permitted by paragraph 2.6 of Section III of the Access to Information Policy, disclosure of this PSD was deferred in accordance with paragraph 1.4.4 of the Directive on Access to Information.
Project Description
The proposed transaction entails an equity investment into AROBS Transilvania Software S.A.s ("AROBS", the "Company") offering of EUR 38.0 million (RON 189.3 million) (the "Project").
The fundraise consists of a i) share capital issuance of EUR 28.7 million (RON 142.9 million), through the offering of newly issued ordinary shares (the "Primary Shares"), alongside ii) the secondary sale of EUR 9.3 million (RON 46.4 million) worth of existing ordinary shares (the "Secondary Shares") owned directly and indirectly by the founder and current CEO, Voicu Oprean. The Primary Shares were initially offered to existing shareholders, and any Primary Shares remaining unsubscribed after the exercise period of the preference rights were offered for subscription via a private placement, along with the Secondary Shares. The EBRD participated in the private placement alongside other institutional investors.
Project Objectives
The project primarily aims to support the Companys M&A strategy, establishing a regional IT services leader, and enhance AROBS stock liquidity by increasing its free float. |
