A total 144,928 shares were put up for sale, at the price of RON69 per share. Subscriptions totaled RON118.9 million, a record level for a private placement brokered by TradeVille, triggering a 12-fold oversubscription compared with the value of the offer.
The minimum subscription targeted 2,200 shares and most subscriptions were carried out online, on TradeVille trading platform.
Upon closing the offer, Connections Consult’s pre-listing capitalization reached RON74.5 million and the company is to take the necessary steps towards listing its shares on the multilateral trading system operated by the Bucharest Stock Exchange, on the alternative trading system AeRO, under the ticker symbol CC.
The stock market listing will be assisted by TradeVille as licensed advisor.
Connections Consult representatives said the RON10 million funds raised would be used for its development on external markets, including by opening a division in the United States of America, and for investments in own products and the acquisition of majority stakes in other companies.