RO IT company Arobs closes largest private placement on BVB's AeRO market

Romanian IT company AROBS Transilvania Software (AROBS) announced the successful closure of the largest private placement in the history of the Romanian alternative market at Bucharest Stock Exchange (BVB) AeRO by raising RON 74.2 mln (EUR 14 mln) lei from investors.

The company intends to float the shares on the AeRO in the coming weeks. In the private placement, which started on October 15, a total of 54.7 mln shares, respectively 12% of the company's current share capital, were sold at a price of RON 1,357 per share.

Investors placed orders for 2.82 times more shares than put up for sale, and the allocation rate was 35.4%.

The placement thus values the company at RON 619 mln (EUR 123 mln).

In 2020, AROBS Transilvania Software registered, at the individual level, a turnover of RON 154.5 mln (EUR 6.35 mln), EBITDA of RON 46.6 mln (EUR 1.92 mln), and a net profit of RON 40.4 mln (EUR 1.67 mln).

For 2021, however, AROBS Group estimates consolidated revenues of RON 192.7 mln (EUR 38 mln) and consolidated EBITDA of RON 52.8 mln (EUR 10.5 mln).

(Photo: Voicu Oprean, founder and CEO Arobs from Arobs Facebook Page)