The Bucharest Stock Exchange (BVB) announced on Wednesday that Bit Soft has successfully raised EUR 1.5 million from investors and has become the first software developer for the HoReCa sector to list bonds on the Multilateral Trading System of BVB.
Bit Soft’s corporate bonds worth EUR 1.5 million have started trading on BVB under the ticker BIT25E. The funds will be used to continue the development of products and software modules, as well as to accelerate the sale of the company’s own products for restaurants, both in domestic and international markets, according to a press release.
“We want to see more and more Romanian companies that have the vision to expand beyond the country’s borders and to assume an international role,” stated Radu Hanga, President of the Bucharest Stock Exchange.
“This listing of bonds is only the first stage in a broad and long-term strategy to offer the expansion our company needs, by making us more visible in international markets, by ensuring the continued development of our solutions in this stage of accelerated digitization of the HORECA industry,” said Bogdan Stanciu, General Manager and founder of Bit Soft.
The listing of the bonds comes after a private placement of bonds took place between 5-6 July 2021, following which 15,000 unconditional, unsecured, non-convertible bonds were sold at a nominal value of 100 EUR / bond.
The bonds were issued on July 9, 2021, maturing on July 9, 2025. The interest rate is fixed, 5.5% per year, payable quarterly.
The private placement and the listing were made with the support of BT Capital Partners, the investment banking and capital markets division of Banca Transilvania Financial Group.
The solutions offered by Bit Soft are specially designed for the hotel industry, restaurants, cafes, and SPA centres. Bit Soft operates in 3 markets in the Central and Eastern European region: Romania, Bulgaria, and Hungary.