Chromosome Dynamics, an integrated agribusiness company focused on development and research of innovative IT and artificial intelligence solutions, went public, on May 5, on Bucharest Stock Exchange AeRO market. The company's shares are traded under the stock ticker CHRD. The company was founded in 2020 and attracted from the capital market investors, prior to the listing, funds worth RON 3.35mn for development. Chromosome Dynamics is the eighth listed company in 2022 on the AeRO market. The market capitalization of the companies listed only this year is RON 2.9bn.
‘Bucharest Stock Exchange offers financing solutions for all Romanian entrepreneurs, in different stages of developing of their business. The fact that Chromosome Dynamics team has chosen to go public, two years after its establishment, is a sign of confidence in the capital market. We are happy to be with the Chromosome Dynamics team during this stage of development and I believe that together with the investors on the capital market, the company will write one of the beautiful stories of Romanian entrepreneurship’, said Radu Hanga, Bucharest Stock Exchange’s President.
‘We are extremely excited and grateful for this achievement - listing our company on the AeRO market. Behind the whole process are thousands of hours of work, passionate and involved people, incredible colleagues and collaborators and, of course, investors who trusted us and participated in our private placement. Chromosome Dynamics, as the name suggests, is a dynamic company that will certainly add value to the areas in which it will develop and innovate, and this will be done through the professionalism and enthusiasm of the entire team. Some of our projects are already completed, others are in their final stages and will be launched by the end of this year’, said Mugurel Ionel, Chromosome Dynamics Founder.
Chromosome Dynamics carried out a private placement of shares between September 27 and October 1, 2021, in which 60 investors participated. The company sold 111,929 new shares, at a price of RON 30 per share. The amount raised by the company for the sale of new shares – RON 3.35mn - will be used to support the company's software-hardware development plans, for promotion and marketing, IT services, expansion of office spaces and HR costs. The private placement and the listing were carried out with Goldring’s support.
‘By listing Chromosome Dynamics, the spectrum of investment opportunities in the agri-business sector of the AeRO market is completed with a business that has managed, in a short time, to demonstrate traction, direction, multilateralism and vision. So, what started as an online marketplace and B2B agri-business consulting firm has taken on more complex nuances, modulating AI-based concepts and products for diagnosis, education and agricultural know-how, capitalizing on the expertise and managerial capacity gained so far. Following them in their recent evolution, as well as in the future plans already materialized in part, I can only express my confidence that the CHRD share will attract attention and meet the expectations of all investors, regardless of their time horizon. We wish them to remain open to shareholders and the market, to continue to innovate, to convince with the results of their work, to communicate properly and to capitalize on the financing and development levers that the capital market offers so generously’, said Virgil Zahan, Goldring CEO.
Chromosome Dynamics launched in 2021 Agrobazar, its first product and the first agro-industrial marketplace in Romania. Since its launch, the total sales through the platform have exceeded RON 2.5mn. The company announces that it will launch this year the projects developed since the closing of the private placement of shares: SpellBox, Homeland, ORGNit, WatchDog, Rooster’s Journey, Tortoise. SpellBox and Homeland (Beta) are scheduled to be officially launched in June, and the other projects will be launched by the end of this year.
In 2020, the first year of activity, the company had a turnover of almost RON 1mn. In 2021, the turnover increased almost five times, to RON 4.6mn. The net profit of the company in 2021 was RON 976,065. For 2022, the company estimates a turnover of RON 11mn and a gross profit of almost RON 3mn. There are currently 17 employees in the company.
More information on the CHRD shares is available here.