Producer of Romanian smartphones Allview enters listing at BVB
Visual Fan Brasov, which sells various gadgets such as tablets and mobile phones under its label Allview, will see its shares traded at the Bucharest Stock Exchange (BVB) under the ALW ticker on July 26, 2021, according to Tradeville brokerage house, quoted by Ziarul Financiar.
In April, the company concluded a private placement mediated by Tradeville and attracted RON 15 mln (EUR 3 mln) from investors at the price of RON 140 per share.
The placement was made by capital increase with cash contribution, and 111,100 shares were issued - a 10% stake ex-post.
The estimated capitalization based on the private placement would thus be EUR 20 mln. Visual Fan said it would use the funds to finance the current activity, accelerate sales and intensify marketing campaigns.
Representatives of the brokerage company add that Visual Fan's priority after the listing is the strong capitalization of the company through all stock exchange mechanisms, including increases in share capital with free shares granted annually.
The company reported EUR 82.75 mln turnover and EUR 4.88 mln net profit last year.
(Photo: Diana Oros/ Inquam Photos)