The issue has a nominal value of RON7 million and includes 70,000 bonds with a 3-year maturity and a face value of RON100/ bond. The bonds were issued in November 2020 and have a fixed interest rate of 8.75% per year, payable half-annually.
“It is a great honor to list the first issue of iHunt bonds, under the ticker HUNT23. The overwriting and early closing of the HUNT23 bond issue reflects investor confidence in the iHunt business. Funding attracted through investor confidence will serve as a foundation for the brand development in 2021,” said company founder and CEO Cezar Stroe.
The company conducted a private bond sale at the end of October 2020, carried out by TradeVille. Investors placed subscription orders worth over RON10 million compared with iHunt’s target value of RON7 million. The bonds were issued in early November and were allocated to 63 retail investors.
Hunt Technology Import Export started its activity in 2015 as a direct importer of mobile phones and accessories from China, with two employees and a share capital of RON200.
The company developed rapidly and in July 2019 it was listed on the AeRO market of the Bucharest Stock Exchange. At the end of the first day of trading on AeRO, iHunt had a capitalization of RON12.2 million and has since reached a capitalization of RON75.8 million.
Stroe holds 74.28% of the company’s shares and his father, Corneliu Stroe, holds 5.15% of the shares. The difference of just over 20% of the shares is in the portfolios of other investors.
iHunt will soon list a second bond issue (HUNT25) with a nominal value of RON7 million following a private placement at the end of January, which was oversubscribed by 23%.