It is Bittnet’s ninth bond issue listed on the local stock exchange from 2016 to date. Of these, four bond issues – BNET26E, BNET27A, BNET28, BNET28A – worth RON31.6 million, are still available for trading for investors, the rest being redeemed early or repaid at maturity, as per a press statement.
“Bittnet is an example for listed companies to follow, taking into consideration the way they understand and use capital market mechanisms for funding and growth. Bittnet grew alongside the AeRO market, where it initially debuted and, later, within the Main Market, which gave them access to a new category of investors and new development possibilities”, said Adrian Tanase, CEO of the Bucharest Stock Exchange.
“We have turned to capital market mechanisms for a new round of financing, alongside bank lending resources, to secure the funds needed to deliver significant projects. In Q1/2024, we registered a very active start to the year, with a contract backlog of approximately RON260 million. Considering the current pipeline, we consider this to be the busiest first semester from this point of view. Billing and recognition of revenues from these projects will take place, after their completion, most likely in the second part of this year”, said Mihai Logofatu, CEO Bittnet.
The listing of BNET28A bonds was preceded by a public offering for sale, held in the first half of April, closed at the price of RON96 per bond. Bittnet issued 66,249 corporate bonds, unsecured, denominated in RON, with a nominal value of RON100 and a fixed interest rate of 9% per annum, payable quarterly. The bond issue has the maturity date in April 2028. The funds raised will be used to finance significant contracts being in various stages of implementation. The bond listing was made with the support of TradeVille, the press statement reads.
Bittnet is one of the most dynamic technology entities in Romania, being the first Romanian IT group of companies listed on the Main Market of the Bucharest Stock Exchange. Bittnet shares are included in the BET-XT, BET-BK, BETPlus, BET-XT-TR, BET-XT-TRN indices, as well as the FTSE Russell Global Micro-Cap Emerging Markets and MSCI Frontier Markets indices. Bittnet works as an integrator of IT&C services and solutions and is the leader in the field of professional IT training in Romania.