Romanian provider of IT&C solutions plans BVB listing in Q3

Arctic Stream, a provider of services for communications technologies and equipment, data centers and software solutions, plans a private placement of shares followed by the listing of the new shares on the Bucharest Stock Exchange in the third quarter of 2021.

"We want to move to another level of development by accessing the capital market," says Dragos Octavian Diaconu, founder and CEO of Arctic Stream, quoted by Ziarul Financiar.

The private placement and the operations necessary for the listing will be mediated by TradeVille, the largest retail broker on the Romanian stock exchange.

"Unlike other issuers, in our case, the main objective of the listing is not, in a first phase, meeting immediate financing needs, but increasing the company's visibility and credibility, which will help attract new talent to the team, in the context of high demand for labor in the IT field," he explained.

Arctic Stream recorded in 2020 a turnover of approximately EUR 8 mln, over 120% more compared to 2019, and a net profit of over EUR 1.2 mln, three times higher than in 2019.

Arctic Stream is a company with fully Romanian capital, founded in 2017, with a portfolio of services that includes IT infrastructure evaluation, consulting, design, redesign, integration and development of data and IT security infrastructure, project management, configuration, implementation and migration of complex solutions, as well as post-implementation maintenance and operational support.

(Photo: Diana Oros/ Inquam Photos)