Safetech Innovations will be the first cyber security solutions company listed on the Bucharest Stock Exchange. Its shares will be trading under the ticker symbol SAFE.
Prior to the planned stock market listing, a private placement for new shares will be carried out, with a view to attracting RON2.5 million, which will be used for investments.
The placement for the new ordinary shares of Safetech Innovations will take place in the autumn of 2020 and will be brokered by brokerage firm Tradeville. Cornerstone Communications will be the company’s licensed advisor after the listing.
Safetech Innovations is held by Victor Gansac (the company’s general manager), and by Paul Rusu (the company’s Chief Financial Officer), each holding a 50% stake in the company. Following the private placement, the current shareholders will keep their majority stakes in the company.
Safetech Innovations was established in 2011 and collaborates with over 10 key institutions in the local financial-banking sector, with multinational companies and with local companies in the energy, FMCG, telecom, IT&C and transport sectors.
The company reported a turnover of RON10.5 million in 2019, up 56.4% on the year, and a net profit of RON1.25 million, up 26.3% on the year, with a net profit margin of 11.8%.
In January-June 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 2020, the company targets revenue of RON15.6 million and a net profit of RON2 million. The company currently has 43 employees.