Thus, according to ZF data and in the context of an amendment on Tuesday morning from the Financial Supervisory Authority (ASF), the condition for the offer to be successfully closed was lowered from RON30 million (in the initial prospectus) to RON3 million.
Another change is the extension of the offer from December 29 to January 4, 2022.
Thus, the sale of shares in ABN Systems International – a company distributing IT&C products and accessories and owner of the Tellur brand, through an offer that from its inception on December 15 until Tuesday, the day before it was supposed to close, attracted subscriptions of 14% or RON6 million was extended to the beginning of next year.
“Processing of subscriptions will take place from 15.12.2021 to 04.01.2022, with the deadline on the last day of the offering period being 12:00,” according to a report from the Tradeville platform.
In this IPO investors can subscribe for shares at prices ranging from RON5.18 to RON5.69 per share, with an underwriting step of RON0.17, i.e. they will be able to place orders at RON5.18, RON5.35, RON5.52 and RON5.69, the first time retail investors will be able to choose the price at which they wish to subscribe from the outset in the auction.
According to the listing prospectus, over the period 2010-2020, the company has recorded average annual revenue growth rate of 17.6%, starting from RON18.6 million in 2010.
Investors are buying shares in a company that posted almost RON50 million revenue in the first half of 2021, with a net profit of RON2.4 million. By comparison, revenue in the first half of 2020 stood at RON37.2 million and the profit at about RON300,000.
Nedelea Bogdan Remus (45%), Barbu Adisor George (45%) and Nedelea Ilie (10%) are the three shareholders of the company. Following the listing offer their holdings will be diluted, i.e., a 10% stake will become 7%.
(English version by Loredana Fratila-Cristescu)