The company offered RON54.7 million shares for sale and the investors had put in subscription orders for RON154.5 million shares by 5 p.m. on Friday, hence the offering was 2.82 times oversubscribed.
The price was RON1.357 per share, which means total subscription amounted to RON209.7 million, ZF has calculated.
The company set out to have its shares (AROBS.RO) listed on the Bucharest Stock Exchange by yearend.
The private placement and the listing are handled by brokerage firm BRK Financial Group.
AROBS plans to use the money raised to buy other IT companies to speed up development in Romania and abroad.
(English version by Loredana Fratila-Cristescu)