Romanian Bittnet founder: AeRO listing, solution for new capital

Romanian IT provider Bittnet Systems has decided to be listed on the alternative trading market AeRO because it reached a new growth stage and needed a capital infusion, said the company’s founder Cristian Logofatu. The target for the future is to move to the primary trading market, reports local Ziarul Financiar. The company has grown by 3-4 times since 2012, when it attracted capital. Bittnet Systems wants to reach a EUR 7 million turnover in 2017, compared to the EUR 1.8 million turnover the company recorded last year. This year it plans to increase the business to EUR 4 million, whereas, for 2016, it targets EUR 5 million. The AeRO market, which the Bucharest Stock Exchange (BVB) launched at the end of February, is designed for listing early stage companies, start-ups, and SMEs. editor@romania-insider.com