Romanian e-learning company raises RON 3 mln in bond issue
Romanian e-learning company Ascendia has raised RON 3 million (EUR 638,000) through a bond offer addressed to a limited number of investors (under 150).
Romania Insider · Journalist
· Updated · 1 min read
Romanian e-learning company Ascendia has raised RON 3 million (EUR 638,000) through a bond offer addressed to a limited number of investors (under 150).
The offer, managed by local brokerage firm Tradeville, closed after the first day as the minimum threshold for a successful placement was RON 1.4 million.
The bonds have a maturity of three years and pay a yearly coupon of 10%. The company will use the proceeds from this bond offer to expand its sales and marketing operations. Ascendia offers corporate e-learning solutions and operates two platforms: Livresq.com, dedicated to educational content creators, and Timlogo, a logopedics platform.
The company had a turnover of RON 3.6 million (EUR 770,000) in 2018, up 40% over the previous year. Founder and CEO Cosmin Malureanu owns 62% of the company’s shares.
Ascendia’s shares are trading on the Bucharest Stock Exchange’s AeRO platform. The company is currently valued at RON 6.2 million (EUR 1.32 mln).
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