The shares of Simtel, which raised RON13.7 million in May 2021 from stock market investors, will start trading on the alternative trading system AeRO of the Bucharest Stock Exchange in coming weeks.
“We are glad that Paval Holding joined our company as a significant shareholder prior to Simtel’s listing on the AeRO market and we want to thank Dragos and Adrian Paval for their vote of confidence. Over the past years, we have installed solar panels on the rooftops of over 30 Dedeman stores across Romania. This transaction is a good omen for all our shareholders, because one of our most important clients entering our company’s shareholding structure clearly shows that Simtel Team represents a durable business, with good growth prospects”, said Iulian Nedea, CEO and co-founder of Simtel Team.
Within the private placement closed on May 27, 2021 a total 1,055,000 shares, or 15% of the company’s share capital, were sold to investors at the price of RON13 per share. Upon the closure of the private placement for SMTL shares, Paval Holding SRL acquired a total 352,750 shares already existing in Simtel Team from the three founders – Iulian Nedea, Sergiu Bazarciuc and Radu Vilau, respectively, at a price equal to the private placement price.
The company’s early capitalization before its debut on the AeRO market is RON92 million.
Following the transfer of 5% of the share capital to Paval Holding, the three founders of Simtel – Iulian Nedea, Sergiu Bazarciuc and Radu Vilau jointly hold 78% of the company’s share capital, 2% is owned by Simtel employees and the remaining 15% is held by 154 individual and professional investors which participated in the private placement for Simtel shares.
BT Capital Partners, the investment banking and capital markets division of Financial Group Banca Transilvania, assisted Simtel Team in the completion of transaction with Paval Holding, and Nestor Nestor Diculescu Kingston Petersen (NNDKP) assisted the company on all legal aspects of the transaction.
Simtel Team was established in 2010 by Iulian Nedea, Sergiu Bazarciuc and Radu Vilau. Simtel started as an integrator of solutions for mobile phone operators in 2000 and then branched out into construction and maintenance of PV parks and other green power sources and industrial automation.
Simtel Team had a turnover of RON42 million, an EBITDA of RON5.8 million and a net profit of RON4 million in 2020. Renewable energy projects accounted for 69% of the company’s 2020 turnover, telecommunications projects for 28% and industrial automation projects for 2%.