“Today’s listing of SAFE shares on the AeRO market of the Bucharest Stock Exchange marks a new chapter for Safetech Innovations. We are thrilled that 140 individual and institutional investors participated in the private placement and we thank them for trusting the Safetech brand. Both Paul (Safetech Innovations co-founder and CFO) and I are especially honored that many Safetech employees participated in the offering, and SAFE shares were the first to enter their portfolio. The Bucharest Stock Exchange remains at the center of our strategy for the coming years. We have ambitious plans for the future, and we are confident that, following today’s listing, we will be able to grow at an even accelerated pace, delivering the highest quality cybersecurity solutions to Romanian companies,” said Victor Gansac, Safetech Innovations co-founder and sole administrator.
Safetech Innovations’ listing follows a private placement of shares, carried out in October 2020, through which the cybersecurity company attracted RON2.5 million from investors on the capital market. A total of 625,000 shares were put up for sale to investors, at a price of RON4/share, and the subscription orders placed by investors totaled RON21.4 million, eight times higher than the offering.
Following the private placement, the market capitalization of Safetech Innovations reached RON12.5 million and the funds attracted in the private placement are directed to investments.
In 2019, Safetech Innovations had a turnover of RON10.5 million, up 56.4% compared with 2018, and a net profit of RON1.25 million, up 26.3%.
In the first half of 2020, Safetech Innovations posted a turnover of RON5.3 million, up 60.7% on the year, and a net profit of RON450,246, up 61.5% on the year. For the entire year 2020, the management estimates revenues of RON15.6 million and a net profit of RON2 million. The company currently has 43 employees.
Safetech Innovations has a share capital of RON625,000, divided into 3.125 million shares with a nominal value of RON0.2/ share.
Victor Gansac, co-founder and Sole Administrator, and Paul Rusu, co-founder and CFO, each hold a package of 40% of Safetech Innovations shares, and the remaining 20% was subscribed by investors in the private placement.