Agrowill Group to offer part of shares to small investors

On 12 August, the Board of Lithuania’s largest agricultural investment and development company Agrowill Group established the principles of a secondary public offering of shares of Agrowill Group. 

Based on the established principles, Finasta Rizikos Valdymas will conclude a loan agreement with Invalda, a shareholder of Agrowill Group, on borrowing 1,545,015 previously issued shares and will publicly distribute these shares via distributors under the conditions set out in the prospectus.

“A slightly different than usual distribution model has been chosen in order to increase trade in the company’s shares and promote small investors’ interest in the company. This will enable investors to trade in the acquired shares immediately after they are distributed,” Valentas Šulskis, General Manager of Agrowill Group, said.

The portion of the share issue intended for small investors will be distributed by Finasta and Orion Securities. The issue price per share has been set at LTL 5.80. One investor may apply for the acquisition of a maximum of LTL 50,000 worth of shares.  In the event that applications are submitted for a higher number of shares than planned to be offered, the number of shares indicated in the applications will be reduced for all investors proportionately.

The public offering of shares of Agrowill Group will be started within five working days from the publication of the prospectus approved by the Securities Commission of the Republic of Lithuania.  The distribution of shares is expected to start in early September. The shares will be distributed for a minimum of four working days. The final distribution of shares will be performed no later than the next working day after completion of the share offering. The shares will be transferred to investors within two working days from the completion of the share offering.

In the first half of this year, unaudited consolidated earnings of Agrowill Group made up LTL 18.7 million, up by 19% year-on-year. In the first six months of this year, Agrowill Group’s EBITDA, excluding extraordinary costs, amounted to LTL 7.3 million, up by 18% year-on-year.

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