Romanian tech company Bittnet Group sees 14x increase in market value during decade on BVB

Romanian technology group Bittnet, listed on the Bucharest Stock Exchange under the ticker BNET, celebrated its 10-year anniversary on the BVB on Tuesday, April 15. During its decade on the BVB, the company saw its market value increase almost 14 times.

Bitnett was the first IT company in Romania whose shares became tradeable on the exchange. The 10-year anniversary was marked with a special event attended by BVB officials and company representatives.

During Bittnet’s decade on the BVB, investors have made over 100.000 transactions with over 500 million Bittnet shares, worth over RON 250 million. The company was moved to the Regulated Market in June 2020.

Aside from listing its shares on the BVB, Bittnet Group also listed nine bond issues, the most recent, BNET28A, being valued at RON 6.6 million in May 2024. Three other bond issues of Bittnet are currently tradable. The four active bond issues are worth a total of RON 31.6 million, and the remaining five were redeemed early or reimbursed at maturity.

The company paid interest of over RON 13 million through the mechanisms of the Bucharest Stock Exchange.

"After Bittnet shares entered trading on BVB 10 years ago, several companies in the field of software development opted for listing, which shows that the capital market offers solid levers for the expansion of the IT sector," stated Adrian Tănase, CEO of BVB.

Radu Hanga, President of BVB, noted that Bittnet gained more visibility and trust among investors through its presence on the market.

“For us, the stock exchange was not just a destination, but a partner on the road, which helped us transform ideas into projects, and projects into real impact,” said Mihai Logofătu, CEO of Bittnet Group.

(Photo source: BVB press release)