July 15 (SeeNews) - Bulgarian beehive-monitoring cloud-based technology developer Bee Smart Technologies raised the planned amount of some 1.2 million levs ($614,305/613,500 euro) in its initial public offering (IPO) on the BEAM growth market of the Bulgarian Stock Exchange (BSE) on Thursday, bourse data showed.
The stock closed at the IPO price of 27.50 levs apiece, after the company placed the maximum amount of 43,636 shares of 1 lev in par value each.
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Founded in 2015, the company has developed products such as weight-measuring tool Hivebase Beebot, a device that records data on fluctuations in beehive temperature and humidity and stores it regularly in the cloud facilitating remote access.
In 2016, Bee Smart Technologies attracted as investor Bulgaria-based venture fund firm manager NEVEQ Capital Partners.
(1 euro = 1.95583 levs)