The second offering of Arctic Stream shares was initiated by Dragos Octavian Diaconu, the company’s majority shareholder and sole administrator. Diaconu holds 3.6 million shares, accounting for 86.1% of the company’s share capital.
The private placement put up a total 838,260 shares for sale and the final price was set at RON25 per share. Total subscriptions exceeded RON113 million, triggering an oversubscription by more than seven times compared with the initial value of the offering. The minimum subscription consisted of 6,000 shares, and most subscriptions were carried out online on trading platform TradeVille.
Following the successful closure of the offering, the early capitalization of Arctic Stream nears RON105 million.
The company will list its shares on the multilateral trading system of the Bucharest Stock Exchange, on the alternative trading system AeRO, under the ticker symbol AST. The listing will be assisted by TradeVille, as licensed consultant.
Arctic Stream had a turnover of nearly EUR8 million (over RON40 million) in 2020, up over 120% versus 2019, and a net profit of over EUR1.2 million (over RON6 million), up 200% from 2019.
Arctic Stream is a Romanian-held company established in 2017, with a portfolio of services that includes the assessment of IT infrastructure, consulting, design, integration and development of data and IT security infrastructure, project management, configuration, implementation and migration of complex solutions, as well as post-implementation operational maintenance and support.