Bittnet (BNET), the first IT company listed on the AeRO market of Bucharest Stock Exchange (BVB), launched its third corporate bonds issue BNET23 worth a total of RON 4.7 million, which began trading on the Alternative Trading System of BVB from November 28, 2018. The funds thus obtained will be used to chiefly finance the acquisition of two companies.
“We listed on Bucharest Stock Exchange in 2015 as a company focused on technology and education, with courageous promises and accelerated growth plans in mind. We thank all those who have entrusted us with their capital for their support, which has allowed us to form what today is a group of 4 companies active in the same area of interest: Bittnet, Dendrio, Elian and Equatorial. BNET23 bonds, listed starting today, allowed us to finance the acquisition of stakes in Elian as well as Equatorial and we are confident that the two newly integrated companies will play a crucial role in attaining the target we have set for the Group – RON 100 million in revenues by 2020“, said Mihai Logofatu, CEO of Bittnet.
“Bittnet is one of the listed companies which has extensively used the financing sources offered by the capital market in order to accelerate its development. After the first trading day, on April 15, 2015, the capitalization of the campany was almost RON 8 million, and in less than four years, by using the financial instruments available in the capital market, the value of the company multiplied 6 times and exceed RON 50 million“, stated in his turn Lucian Anghel, President of Board of Governors of BVB.
“Already 4 years ago we have identified and included capital markets financing as important element of our growth strategy. Floating the third issuance of Bittnet bonds on ATS-Bonds market of Bucharest Stock Exchange is important for us because it has a direct, positive impact on 36 bondholders who starting today, are given an opportunity to trade these securities. We are pleased that historically, Bittnet bonds have been amongst the most liquid ones and that because of the said liquidity as well as interest rate, they offer a real, attractive investment destination to Bucharest Stock Exchange investors“, added Cristian Logofatu, CFO at Bittnet.
The bonds issue was made by Goldring as authorized consultant.
“It is an honor for the Goldring team to work with Bittnet on capital markets projects. We congratulate Bittnet for their visionary leadership as well as ability to identify and capitalize on unique opportunities provided in an environment and context where others could only see barriers. For Goldring, the evolution of Bittnet from both business as well as listed company perspective is yet another reason to trust in the potential of Romanian companies as well as in the potential for growth of the local capital market,” said Virgil Zahan, CEO at Goldring.
Bittnet is a Romanian IT entrepreneurial company, founded in 2007. The company offers IT courses, IT solution implementation services (network infrastructure, routing, switching, servers, datacenter, virtualization, security, telepresence or wireless), technical support services, while being focused on new technologies and innovation. The AeRO market for equities was launched in February 2015, and in April 2015 Bittnet became the first IT Romanian company which was listed on BVB.