The offer price is between RON5.18 and RON5.69 per share, making it the first IPO where all investors can choose the price at which they wish to subscribe from the outset in an auction.
The offer opens on December 15, could last until December 29, but may close as soon as December 17.
Subsequently, ABN Systems International will list the shares on the Bucharest Stock Exchange’s AeRO market under the stock symbol ABN.
The company is held by George Barbu, Remus Bogdan Nedelea and Ilie Nedelea.
The company owns the Tellur brand and has been active in the IT&C market for 19 years, with sales in 25 countries on 4 continents. The capital raised from investors will be used to strengthen its position on the domestic market and to expand into foreign markets, including new continents.
The offer prospectus and admission to trading have been approved by the Financial Supervisory Authority (ASF) and the IPO and listing are brokered by TradeVille.
ABN Systems recorded total revenue of RON50.1 million (EUR10.22 million) in the first half of 2021, up 35%. The main growth driver was sales in international markets, which generated more than 52% of total revenue.
ABN Systems’ net profit stood at RON2.44 million (EUR480,000), more than eight times higher than in the same period of last year. Also, in the first half of this year, sales on foreign markets increased by 114% compared to the same period last year, exceeding RON26 million (EUR5 million).
In addition to its own Tellur brand (created in 2015), ABN Systems has long-term partnerships with international brands, including Poly (e.g., Plantronics and Polycom), Panasonic, EPOS (e.g., Sennheiser), Logitech and others.
The main foreign markets are located in Europe, the Americas, Africa and the Middle East, in countries such as South Africa, Canada, France, Germany, Israel, Italy, Poland, Spain, Sweden, Turkey, the UK and the USA.
(English version by Loredana Fratila-Cristescu)