Just twenty minutes into the trading session, the company’s price per share reached RON23, 80% higher compared with the private placement closed in May, reaching stock market capitalization of RON163 million.
Simtel had sales of RON42 million and a net profit of RON4 million in 2020. It’s turnover was 69% generated by renewable energy projects, 28% by telecommunications projects, and 2% by industrial automation.
At the beginning of June, investment vehicle Paval Holding bought 5% in Simtel.
Besides Paval Holding, company founders Iulian Nedea, Sergiu Bazarciuc and Radu Vilau own 78% of Simtel between them, while company employees own 2%. The remainder of 15% is owned by investors who subscribed in the private placement of shares.
Simtel ran a private placement in May and raised RON13.7 million from 154 investors.