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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

Romanian smartphone producer iHunt plans bond issue to finance expansion

Romanian company iHunt, which produces rugged smartphones and smartwatches under its own brand, plans to issue RON 7 million (EUR 1.44 mln) bonds to capitalize on growing demand and expand in Hungary and Bulgaria.

The company is listed on the Bucharest Stock Exchange, where its market capitalization is RON 14 mln (EUR 2.88 mln).

The new funds will be used as working capital to increase the inventory amid growing demand and for the company's expansion on the two foreign markets.

"This helps us enter even more aggressively on the Hungarian and Bulgarian markets, where we sold 300% more in the first part of 2020 compared to the similar period of 2019. The iHunt brand is enjoying growing popularity, and we need to increase production," said Cezar Cătălin Stroe, the majority shareholder and head of iHunt, Profit.ro reported. 

The non-convertible, unsecured bonds will carry a coupon of up to 9% per year payable quarterly or semi-annually. The issuer wants a buyback option so that it can redeem the bonds depending on the cash flow.

In the first half of the year, the company's revenues rose by 52% year-on-year to RON 14.73 mln (EUR 3 mln). It reported RON 1.88 mln net profit, compared to RON 0.61 mln loss in the first half last year.

The company estimates that it is the market leader in Romania for the range of rugged smartphones and has an increasing share in the affordable entry-level segment. It targets maintaining the lowest price for given technical specifications.

[email protected]

(Photo source: Facebook/iHunt)

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

Romanian smartphone producer iHunt plans bond issue to finance expansion

Romanian company iHunt, which produces rugged smartphones and smartwatches under its own brand, plans to issue RON 7 million (EUR 1.44 mln) bonds to capitalize on growing demand and expand in Hungary and Bulgaria.

The company is listed on the Bucharest Stock Exchange, where its market capitalization is RON 14 mln (EUR 2.88 mln).

The new funds will be used as working capital to increase the inventory amid growing demand and for the company's expansion on the two foreign markets.

"This helps us enter even more aggressively on the Hungarian and Bulgarian markets, where we sold 300% more in the first part of 2020 compared to the similar period of 2019. The iHunt brand is enjoying growing popularity, and we need to increase production," said Cezar Cătălin Stroe, the majority shareholder and head of iHunt, Profit.ro reported. 

The non-convertible, unsecured bonds will carry a coupon of up to 9% per year payable quarterly or semi-annually. The issuer wants a buyback option so that it can redeem the bonds depending on the cash flow.

In the first half of the year, the company's revenues rose by 52% year-on-year to RON 14.73 mln (EUR 3 mln). It reported RON 1.88 mln net profit, compared to RON 0.61 mln loss in the first half last year.

The company estimates that it is the market leader in Romania for the range of rugged smartphones and has an increasing share in the affordable entry-level segment. It targets maintaining the lowest price for given technical specifications.

[email protected]

(Photo source: Facebook/iHunt)

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