The Bucharest Stock Exchange (BVB) announced on Friday that Softbinator Technologies, a Romanian software company has started trading on BVB under the ticker symbol CODE.
Softbinator Technologies managed to attract RON 6mln through a private placement from capital market investors.
“The funds raised will be used for expansion in the US and Israel, the acquisition of other companies with similar specifics in Romania and the launch of new services and products,” said BVB in a press release.
The company sold 100,000 shares in a private placement carried out on the 28th of September 2021. 128 retail and professional investors subscribed during the private placement at a price of RON 60 per share.
Softbinator Technologies currently provides services to customers in the US, Israel, Singapore, Romania, UK. In 2020, Softbinator Technologies recorded a turnover of RON 12.3mln and a net profit of RON 2.6mln.
In the first half of 2021, the company registered sales of RON 7.78mln, +43% compared to the same period last year, and a net profit of RON 1.39mln, +18%. Softbinator Technologies estimates revenues of RON 16.2mln and a profit of RON 3.4mln for 2021. Softbinator Technologies targets to grow at Compound Annual Growth Rate in the next four years of 70%.