March 30 (SeeNews) - The Bucharest Stock Exchange (BVB) said on Monday that euro-denominated corporate bonds issued by Romanian software developer Qualitance will start trading on its Multilateral Trading System (MTS) on March 31.
Qualitance has offered to investors 300 bonds of 500 euro ($553) each, BVB said in a press release.
The bonds were bought by 59 investors, out of which 58 are individuals and one legal entity, in a private placement carried out by Tradeville as authorized advisor.
During the next three years, Qualitance aims, among other things, to significantly expand sales and investments in intellectual property by opening new entities abroad as well as to expand its sales team and customer portfolio.
Qualitance was established in 2007 by entrepreneurs Ioan Iacob and Radu Constantinescu. The company uses experience design, rapid prototyping and emerging technologies such as AI to create digital products and services for international companies and startups.
Qualitance owns 99% of the share capital of its two subsidiaries abroad, one based in the United States and one in Australia. The two founders each own 50% of Qualitance's share capital.
The parent company and the two subsidiaries ended 2019 with a cumulative preliminary turnover of 51.5 million lei ($12 million/ 11 million euro), of which 48.7 million lei represent Qualitance Romania revenues, 2.4 million lei are Qualitance Australia revenues and 0.4 million lei are revenues of Qualitance US.
(1 euro=4.8297 lei)