GRF becomes the first communication agency in Romania to list on the Bucharest Stock Exchange

• On July 16, Graffiti Plus shares entered trading on the AeRO market of the Bucharest Stock Exchange (BVB), following a private placement in which the company raised over RON 3 million. The offering was 110% oversubscribed and closed early in its first three days
• This is the first communication and brand marketing consultancy agency to list on the AeRO market, marking a premiere for the Romanian MarCom industry as well as an important milestone for BVB through the diversification of business sectors represented on the capital market
• Graffiti Plus is listing on the Exchange using non-repayable funds provided through the National Recovery and Resilience Plan (NRRP/PNRR), specifically designed to support the costs of the listing process
• GRF shares can be traded on the BVB through authorized brokers. The full list of brokers is availableHERE

Graffiti Plus S.A. (GRF+), one of the leading communication and brand marketing consultancies in Romania, debuted on Thursday, July 16, on the AeRO market of the Bucharest Stock Exchange (BVB). Investors can trade Graffiti Plus shares on the exchange's Multilateral Trading System under the ticker symbol GRF.

GRF+ is debuting on the Stock Exchange with the support of non-repayable funds provided through the National Recovery and Resilience Plan (NRRP/PNRR), aimed at covering the costs of the listing process. It is the second company to list on the Stock Exchange this year with support from the NRRP program.

"Every company that chooses the capital market with the support of this mechanism confirms that European funds can play a role that goes beyond the logic of traditional grants. Through the NRRP, we reduce the cost of a strategic step - access to the capital market - so that the capital raised from investors can directly support company growth. This is the model we want to develop: public resources mobilizing private investment. I am pleased to see that more Romanian companies understand that long-term development also means transparency, corporate governance, and a solid relationship with investors. This is a positive signal both for the capital market and for the Romanian economy," stated Dragos Pislaru, Minister of Investments and European Projects.

"There is a special symmetry to Graffiti Plus's debut: a company that has been building the reputation and trust of other brands for over a quarter of a century now chooses, in its turn, the most demanding exercise in transparency - the status of a listed company. It is the first time the Romanian communication industry reaches the stock exchange, and the significance goes beyond the premiere itself: unlike traditional sectors with tangible assets, the primary resources in the creative industry are people, ideas, and reputation. For such a company, the stock exchange becomes the natural channel for financing. The private placement closed early after just three days shows that investors understand this. We are also pleased to see support instruments like NRRP working as a catalyst for Romanian entrepreneurs. I welcome the Graffiti Plus team to the community of issuers on the Bucharest Stock Exchange - and I say to entrepreneurs in the creative industries that the path is open," stated Remus Vulpescu, CEO of the Bucharest Stock Exchange.

"We have reached the Stock Exchange prepared for the next stage of scaling. Behind the ticker symbol GRF lies over 25 years of market presence, consolidated expertise, and results that have consistently kept us at the top of the industry. What's next? We have validated growth verticals, integrated technology in our workflow, the right team, and now we also have the capital required to accelerate. To the investors who chose us and to those joining us from now on, we offer what our clients have been receiving for over a quarter of a century: consistency, transparency, and results," stated Irina Ciocan-Stanescu, CEO of Graffiti Plus.

According to the evaluation report prepared at the end of 2025, the company's market value was estimated in the range of EUR 8.02 million using the market comparison method (market multiples) - EUR 9.92 million using the discounted cash flow (DCF) method. This range served as the foundation for setting the offer price in the private placement conducted in January 2026, during which 2,216,548 shares were subscribed, representing 8.14% of the company's share capital following the capital increase. Following the determination of the reference value, a 20% discount was applied exclusively for subscriptions during the first 3 days of the placement, to reward investors who chose to support GRF's growth from the private placement stage.

The private placement and the listing of GRF shares were executed with the support of Goldring, acting as Authorized Advisor.

"By intermediating the listing of Graffiti Plus, we are presenting the capital market with a valuable investment opportunity, as Graffiti Plus is an exponent of a creative and innovative industry inaugurating a new sector on the BVB. Investor interest has already validated the appeal of GRF+ shares through the new share offering, which closed early on its third day after subscriptions exceeded 110%. Beyond the listing milestone, GRF+ comes with a genuine commitment to best practices in investor relations and corporate governance, alongside a strong interest and openness toward leveraging the growth mechanisms that the stock exchange makes available to issuers," stated Virgil Zahan, CEO of Goldring.