BUCHAREST (Romania), October 18 (SeeNews) - Romanian IT company AROBS Transilvania Software said on Monday it has raised 74.2 million lei ($17.5 million/ 15.1 million euro) through a private placement on the Bucharest Stock Exchange and plans to list on the alternative trading segment of the bourse, AeRO.
The company intends to float the shares on the AeRO market in the coming weeks, it said in a press release.
During the private placement, which started on October 15, a total of 54,697,494 shares, respectively 12% of the company's current share capital, were sold at 1,357 lei per share. There were 149 retail investors, 38 professional and 9 institutional investors that participated in the private placement. The offer closed on the first day, after investors submitted orders for 209.7 million lei. Therefore, the share allocation rate is 35.4%.
AROBS, through its anticipated capitalization of over 600 million lei exceeds at least three times any other company that has floated this year on the multilateral trading system of the Bucharest Stock Exchange, the bourse said.
"We welcome the new investors in the AROBS team, and we are "We have ambitious plans to grow the business, and the capital raised from the successful private placement closed in one day will support us in this endeavor," AROBS founder and CEO Voicu Oprean said. "In the next period, we will focus on identifying IT companies that could be included in the AROBS Group through M&A transactions, as well as on growing our business nationally and internationally."
Following the private placement, the shareholding structure of the company is as follows: Voicu Oprean owns 64% of the shares, 8.8% are shares to be used in the Stock Option Plan, which will be implemented within the company, Cabrio Investment SRL holds 8.8%, management and key employees hold 6.4% of AROBS shares, while BVB investors hold 12% of the shares.
Founded in 1998, AROBS Transilvania Software specializes in providing customized software solutions based on the latest technologies. It also has several software solutions that are already implemented on the Romanian market and in the Central and Eastern Europe.
For 2020, AROBS Transilvania Software reported, at the individual level, a turnover of 154.5 million lei, EBITDA of 46.6 million lei, and a net profit of 40.4 million lei.
For 2021, the company expects a consolidated turnover of 192.7 million lei and a consolidated EBITDA of 52.8 million lei.
(1 euro=4.9481 lei)