December 17 (SeeNews) - Romanian software developer Softbinator Technologies started trading on the AeRO market of the Bucharest Stock Exchange (BVB), the bourse said on Friday.
The company's shares are traded under the CODE ticker, the BVB said in a press release.
The listing took place after the company attracted 6 million lei ($1.4 million/ 1.2 million euro) from capital market investors through a private placement of 100,000 shares carried out on September 28. A total of 128 retail and professional investors subscribed during the private placement at a price of 60 lei per share. The funds raised will be used for expansion in the US and Israel, the acquisition of other companies with similar specifics in Romania and the launch of new services and products.
"We are ready to develop and become a global company in the software development services market. In this regard, since the successful closing of the private placement, we have been working intensively and taking the necessary steps to open a Softbinator Technologies office in California, USA, in the first part of 2022," Softbinator Technologies CEO Daniel Ilinca said in the press release.
Softbinator Technologies was founded in 2017 and currently has approximately 100 employees and collaborators operating both in its headquarters in Bucharest and in Constanta, on the Black Sea coast.
The company provides services to customers in the US, Israel, Singapore, Romania, the UK. In 2020, Softbinator Technologies recorded a net profit of 2.6 million lei on a turnover of 12.3 million lei. For 2021, Softbinator Technologies expects a net profit of 3.4 million lei and revenues of 16.2 million lei.
Softbinator has 167 shareholders, of which the three largest are Daniel Ilinca, founder and CEO with 46.26%, Bittnet Systems with 18.9% and Simple Capital with 8.09%. In November, Softbinator announced it has started a procedure to take over local peer WiseUp.
(1 euro=4.9492 lei)