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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 andrei@romania-insider.com. 

 

 

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BVB-listed cybersecurity company Safetech raises EUR 2 mln by capital increase

Safetech Innovations (BVB: SAFE), a Romanian cybersecurity company listed on the AeRO market of the Bucharest Stock Exchange (BVB), announced it completed a capital increase operation by raising RON 10.6 mln (EUR 2 mln) from investors.

Out of the money raised during the share capital increase, RON 5.7 mln will be used to expand the company’s business by setting up two new subsidiaries in the UK - London and the US - Reston, Virginia, to promote and sell Safetech Innovations solutions and services in the two countries.

The rest will be used as working capital for future company projects in developing new cybersecurity solutions.

For 2022, Safetech Innovations targets total revenues of approximately RON 44 mln and a profit of RON 10 mln, according to the estimated budget published at the end of 2021.

The estimate does not include the revenues generated by the subsidiaries that the company will open this year.

Starting January 29, 2021, Safetech Innovations shares are floating on the AeRO market. The company has a market capitalization of over RON 180 mln, and starting October 11, 2021, SAFE shares are included in the BET-AeRO index developed by the Bucharest Stock Exchange for the AeRO market. Within this index, Safetech Innovations holds the third largest share.

(Photo: Victor Gânsac, CEO Safetech Innovations - courtesy of the company)

andrei@romania-insider.com

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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 andrei@romania-insider.com. 

 

 

The Capital Markets News section is powered by the Bucharest Stock Exchange 

 

BSE

 

 

BVB-listed cybersecurity company Safetech raises EUR 2 mln by capital increase

Safetech Innovations (BVB: SAFE), a Romanian cybersecurity company listed on the AeRO market of the Bucharest Stock Exchange (BVB), announced it completed a capital increase operation by raising RON 10.6 mln (EUR 2 mln) from investors.

Out of the money raised during the share capital increase, RON 5.7 mln will be used to expand the company’s business by setting up two new subsidiaries in the UK - London and the US - Reston, Virginia, to promote and sell Safetech Innovations solutions and services in the two countries.

The rest will be used as working capital for future company projects in developing new cybersecurity solutions.

For 2022, Safetech Innovations targets total revenues of approximately RON 44 mln and a profit of RON 10 mln, according to the estimated budget published at the end of 2021.

The estimate does not include the revenues generated by the subsidiaries that the company will open this year.

Starting January 29, 2021, Safetech Innovations shares are floating on the AeRO market. The company has a market capitalization of over RON 180 mln, and starting October 11, 2021, SAFE shares are included in the BET-AeRO index developed by the Bucharest Stock Exchange for the AeRO market. Within this index, Safetech Innovations holds the third largest share.

(Photo: Victor Gânsac, CEO Safetech Innovations - courtesy of the company)

andrei@romania-insider.com

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