Bittnet completes RON 5 mln public bond issue at Bucharest Exchange
Bittnet Group (BVB: BNET), a group of tech companies listed on the main market of the Bucharest Exchange, announced the successful conclusion of the first public offering of corporate bonds in the history of the Romanian capital market…
iulian ernst · Journalist
· Updated · 1 min read
Bittnet Group (BVB: BNET), a group of tech companies listed on the main market of the Bucharest Exchange, announced the successful conclusion of the first public offering of corporate bonds in the history of the Romanian capital market (BNET27A). More such issues may follow throughout the year.
The RON 5 million issue was oversubscribed more than 2x in 15 days. The purchase orders were settled only to investors who subscribed at a price of RON 100 (the book value) and at higher prices (RON 101, 102, 103 and 104).
Between 2016 and 2022, Bittnet Group successfully operated six other bond offerings, raising in total RON 43 mln, but all through private placement mechanisms (as opposed to public offer).
"During this year, we intend to carry out several such offers, and the capital thus raised will help us fulfil both Bittnet Group's M&A strategy and the group's mission to accompany Romania in its digital journey," commented Mihai Logofatu, CEO and co-founder of Bittnet Group.
(Photo source: the company)
