RO tech group Bittnet takes stake in IT solutions supplier Arctic Stream

Bittnet, a company with various IT activities, founded by brothers Mihai and Cristian Logofătu and listed on the Bucharest Stock Exchange (BVB), bought shares worth RON 1.86 mln (EUR 380,000) of Arctic Stream, a Romanian IT company founded in 2017 and soon to be listed at BVB as well.

Arctic Stream, a provider of services and equipment in the market of communications technologies, data centres, and software solutions completed a RON 21 mln (EUR 4 mln) private placement of shares recently. The anticipated capitalization of Arctic Stream stands at almost RON 105 mln (EUR 20 mln).

Bittnet Systems informs investors about the participation, on June 10, 2021, in the private placement for Arctic Stream shares (AST). Following the pro-rata allocation at the price of RON 25 per share, the issuer was informed on June 11, 2021, by the intermediary of the operation, SSIF Tradeville, that a number of 74,632 AST shares were allocated to it, which represents 1.78% of the share capital and 1.78% of the voting rights of the company. The value of the investment in Arctic Stream shares amounts to RON 1.87 mln.

(Photo source: Facebook/Bittnet)