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Vertis Legal Advises Arobs and BRK on RON 74.2 million Private Placement

Vertis Legal Advises Arobs and BRK on RON 74.2 million Private Placement

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Vertis Legal has advised Arobs Transilvania Software on a RON 74.2 million private placement on the AeRO market of the Bucharest Stock Exchange. The firm also advised the BRK Financial Group on mediating the investment.

The private placement included 12% of Arobs' current share capital and was closed on the first day, ahead of schedule, while being almost three times oversubscribed. The shares were sold to both retail and institutional investors. Arobs announced it intends to list the shares on the AeRO alternative trading segment of the Bucharest Stock Exchange in the upcoming weeks.

According to Vertis Legal, this is the largest private placement in the history of the AeRO market.

Arobs Transilvania Software is a Romanian IT company founded in 1998 providing customized software solutions for the pharmaceutical, travel tech, IoT, fintech, enterprise solutions, logistics, and automotive industries. It operates out of seven offices in Romania and another seven abroad.

Established in 1994 and headquartered in Cluj-Napoca, the BRK Financial Group is a publicly-traded financial investment services company and one of the founding members of the Bucharest Stock Exchange.

"This investment attracted huge interest from both retail and professional investors," commented BRK General Manager Monica Ivan, "so it was concluded in advance, on the first day, which shows us once again the high appetite of investors towards Romanian entrepreneurial companies."

"We have ambitious plans to grow the business, and the capital obtained from the successful private placement ... will support us in this endeavor," said Arobs founder and CEO Voicu Oprean. "Further, we will focus on identifying the IT companies to be included in the Arobs Group through M&A transactions, as well as on growing our business nationally and internationally."

The Vertis Legal team was led by Managing Partner Alexandru Basarab and included Senior Associate Ronald Elek and Associate Simona Chiperi.

Romanian Knowledge Partner

Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

Firm's website.

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