Bit Soft software developer for HoReCa issues bonds worth EUR 1.5 million on BVB

8/11/2021

  • Bit Soft has successfully raised EUR 1.5 million from investors, becomes the first software developer for HoReCa sector to list bonds on the Multilateral Trading System of BVB.
  • The issuer, which develops and distributes integrated end-to-end solutions for HoReCa, will use the newly raised funds to expand activity and acquire international market share.

 

Bucharest Stock Exchange (BVB) informs that the corporate bonds of Bit Soft, developer and distributor of integrated end-to-end solutions for HoReCa, have started trading from August 11th on the Multilateral Trading System (MTS) of the Bucharest Stock Exchange (BVB). The company’s bonds worth EUR 1.5 million are traded 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.

“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. The entrepreneurial vision needs capital to reach optimal performance, and accessing this capital can be done efficiently and transparently through the stock market. More accessible and faster than ever, listing a bond issue requires more than investor funding and is a sign of confidence in the company's development plans,” 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, on one hand, by making us more visible in international markets, and on the other hand by ensuring the continued development of our solutions in this stage of accelerated digitization of the HORECA industry. We are honored by the trust of our investors,” 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 Romanian entrepreneurial companies are increasingly looking to expand internationally, and the admission to trading of Bit Soft bonds is an important first step on the capital market for the company, which thus gained access to the necessary funds to accelerate international expansion and support efforts to develop their own solutions. All these solutions proved to be an important support in helping restaurants reinvent through digitalization, a trend triggered by the pandemic. We are glad that we had the opportunity to be with Bit Soft in this project and we thank them for their trust,” stated Daniela Secara, General Manager at BT Capital Partners.

„The unprecedented diversification of the sectors in which the listed issuers operate ensures a better personalization of the investment portfolios. It is a gratifying phenomenon for individual investors, who can thus benefit from both asset class diversification and wider sectoral exposure to entrepreneurial companies looking to grow. I urge local companies to use the stock market and finance their investment ideas through the capital market,” said Adrian Tanase, CEO of the Bucharest Stock Exchange.

The solutions offered by Bit Soft are specially designed for the hotel industry, restaurants, cafes, and SPA centers. Bit Soft operates in 3 markets in the Central and Eastern European region: Romania, Bulgaria, and Hungary. More information about the company is available on the BVB website at this link.