July 26 (SeeNews) - Romanian technology company Visual Fan, operating under the Allview brand, started trading on the alternative market of the Bucharest Stock Exchange, the bourse said on Monday.
Its shares are traded under the ALW ticker on the AeRO market, the bourse said in a press release.
The listing was preceded by a private placement in April through which Visual Fan raised 15.5 million lei (3.7 million/ 3.2 million euro). A total of 111,100 shares were sold to 161 investors, including 32 qualified investors and 129 retail ones, at a price of 140 lei each.
The company's capitalisation is expected to reach 155.5 million lei.
The funds will support the financing of the company's current operations, aiming to accelerate sales and intensify promotional activity.
Allview was founded in Brasov, in 2002, and manufactures smart phones, smart home systems, tablets, laptops and other gadgets.
The company posted a net profit of 23.3 million lei in 2020, sharply up from 1.8 million lei in 2019. Its revenues increased to 406.4 million lei in 2020 from 93.3 million lei in 2019.
Allview delivers products to over ten countries, including Poland, Germany and the Baltic States. The company had 79 employees at the end of 2020.
Visual Fan founder Lucian Peticila owns 82.8% of the company’s shares. The Allview shareholding structure also include Manuela Peticila with a 4.5% stake and Camelia-Stefania Cotuna with 2.7%. The remaining 10% is in free float.
(1 euro=4.9208 lei)