You have 5 free articles left this month. Get your free Basic subscription now and gain instant access to more.

Romanian IT co Bento plans to raise capital, list on BVB's AeRO market

Romanian IT co Bento plans to raise capital, list on BVB's AeRO market Bento co-founder and Executive Managing Partner Vlad Bodea, Partner and General Manager Radu Scarlat Source: Bento

BUCHAREST (Romania), October 20 (SeeNews) - Romanian software solutions and cloud services provider Bento said on Wednesday it plans to raise 6 million lei ($1.4 million/1.2 million euro) through private placement on the Bucharest Stock Exchange (BVB) and then list some of its shares on the bourse's AeRO market.

The company aims to list its shares on the BVB by the end of the year, the company said in a statement.

Before listing, Bento will carry out a private placement to raise funds for developing its software products and offer its products and services to new clients and business verticals.

"With the support of BVB investors, we are confident that we will take Bento to the next level in terms of the company's activity both in Romania and internationally," Bento executive managing partner and cofounder Vlad Bodea said.

The capital infusion will be used for the technological development and commercial scaling up of its software products, focusing on Bento Field Service Management and Bento Mobile Device Management, new partnerships within the IT, Infrastructure & Cloud division, and increasing Bento's presence at the international level.

"The decision to list on the AeRO market of the Bucharest Stock Exchange comes in a favorable context for the IT industry both locally and globally. We want to develop the company, especially our software products, together with BVB investors, and expand our client portfolio even more strongly, including internationally," Bento partner and general manager Radu Scarlat said.

Bento was founded in 2004 under the name 2B Inteligent Soft. The company employs 70 and currently provides software solutions and IT and Cloud infrastructure services for multinational companies in Romania, the U.S, and Switzerland.

The company aims to increase its turnover by 72% this year, to some 26.3 million lei. During January-June, Bento's turnover soared by 88% year-on-year to 11.9 million lei, boosted by intense activity in terms of both recurring contracts and new projects won.

(1 euro=4.9490 lei)