ABN Systems International (BVB: ABN), which operates the IT&C accessories and smart home products brand Tellur, announced the opening of a US subsidiary to spur its sales in this part of the world, adding imminent access to the large-sized markets of India and Egypt.

The sales on the US market might surpass those in Europe by the end of the year, the company said.

The bright outlook is unveiled ahead of the listing of its shares on the AeRO market at Bucharest Stock Exchange (BVB) on February 14.

The company raised RON 5.48 mln (EUR 1.1 mln) in a private placement completed on January 4, at a post-placement value of the company of RON 99 mln (EUR 20 mln).

With a portfolio of over 30,000 IT&C products and accessories, ABN Systems is already operating in over 25 countries on 4 continents and aims to accelerate the expansion of external sales channels, both by entering new markets and by consolidating the current ones.

andrei@romania-insider.com

(Photo source: the company)