Superbet bonds kick off trading on Bucharest Stock Exchange

0 23

The bonds season continues at the Bucharest Stock Exchange (BVB). Following Globalworth, UniCredit Bank and Vrancart, Superbet comes to offer a new series of corporate bonds.

Corporate bonds (ticker symbol SBG20) of Superbet Betting & Gaming S.A., one of the most important gambling operators in Romania, have started trading on the Alternative Trading System managed by Bucharest Stock Exchange (BVB) from September 20, 2017, a press release informs.

The non-guaranteed bonds, RON denominated, issued in January 2017, maturing in 2020, with a fixed interest rate of 12 percent per annum, have a total value of approximately RON 9.7 million.

“Superbet succeeds to attract money from Romanian investors with this second placement. The money will remain in Romania because it will be used for the development of operations in this country. The money will be invested in expanding both the retail business (i.e. the new betting agencies) and in boosting the online business that has just begun. In the online environment, most of the money is geared towards advanced technology development. The success of the second placement shows the stability and financial health of the company and the group it belongs to. It is what investors always appreciate, in addition to the growth and potential of business growth,” Vlad Ardeleanu (photo L), General Manager Superbet’s multibrand operations said.

“When investors ask for bonds to be placed on the stock market, it means they appreciate a level of liquidity and transparency that contributes to investor safety,” Lucian Anghel, BVB President, stated.

Superbet Betting & Gaming S.A. has almost 1,800 employees and over 600 locations (agencies) offering betting and lottery services, virtual games and more than 2,000 slot machines.

The net profit of the issuer increased by 270 percent in 2016 compared to 2015 and exceeded RON 27 million, according to the admission to trading memorandum. The main investments approved by the company’s management for 2017 aim at expanding the company’s area by opening new work points so that by the end of this year it will be able to operate 670 agencies.

Scheduled investments will be made by reinvesting profits in previous years and borrowing, including bond issues.

- Advertisement -

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More