The second bond issue of the online retailer and producer of mobile phones and gadgets iHunt will debut on April 1st on BVB s MTS

3/31/2021

  • The second bond issue of the online retailer and the manufacturer of mobile phones and gadgets iHunt will start trading on the BVB Multilateral Trading System, under the stock symbol HUNT25.
  • Radu Hanga, BVB Chairman of the Board:
    • ”The success of the two rounds of financing carried out by iHunt in only three months on the capital market demonstrates that BVB investors are attentive to investment opportunities and are willing to invest in companies with development prospects. In the last two and a half years we have seen that the interest in financing through the capital market is constantly growing”.
  • Cezar Stroe, Founder and CEO, iHunt:
    • ”It is a great honor to list the second round of iHunt bonds, under the ticker HUNT25. Investors on Bucharest Stock Exchange responded quickly to our need for financing by overwriting and early closing the HUNT25 bond issue, which is less than three months away from HUNT23, thus reflecting investor confidence in the iHunt business”.
  • Ovidiu Dumitrescu, Deputy CEO, TradeVille:
    • ”It is gratifying to see an issuer that is very serious not only to its business, but also to its connection with the capital market. iHunt manages to have a high momentum and finance business opportunities through the stock market in an example of flexibility and confidence that I find admirable”.

 

The online retailer and manufacturer of mobile phones and gadgets iHUNT (HUNT) will list on Thursday, April 1st, 2021, its second corporate bond issue on the Bucharest Stock Exchange (BVB), on the Multilateral Trading System (SMT). The issue has a nominal value of RON 7mn and includes 70,000 bonds with a 4-yrs maturity and a face value of RON 100/ bond. The bonds were issued in January 2021 and have a fixed interest rate of 8.75% p.a., payable half-annually.

"The success of the two rounds of financing carried out by iHunt in only three months on the capital market demonstrates that BVB investors are attentive to investment opportunities and are willing to invest in companies with development prospects. In the last almost two and a half years we have seen that interest in financing through the capital market is constantly growing, because we are talking about 43 rounds of financing through bonds, with a value of above 2.4 billion euros. Also, eight companies were listed during this time, and their capitalization reached over 170 million euros. The interest of entrepreneurs, but also of the State, for attracting financing through the capital market also attracted the attention of active investors, as well as new investors in the market, so that their number rose by 12,000 last year, to 66,000. We see that this dynamic will continue this year, over 20 companies being in various stages of preparation for coming to BVB", stated Radu Hanga, Bucharest Stock Exchange Chairman of the Board.

"It is a great honor to list the second round of iHunt bonds, under the ticker HUNT25. Investors on Bucharest Stock Exchange responded quickly to our need for financing by overwriting and early closing the HUNT25 bond issue, which is less than three months away from HUNT23, thus reflecting investor confidence in the iHunt business. The financing obtained thanks to the confidence of investors completes iHunt development plan for 2021", said Cezar Stroe, iHunt Founder and CEO.

The company conducted a private bond sale at the end of January 2021, carried out by SSIF TradeVille. Investors placed subscription orders worth over RON 8.6mn, compared to the target value of iHunt of RON 7mn, thus the private placement was closed even from the first day. The bonds were issued at the end of January and were allocated to 84 retail investors.

“It is gratifying to see an issuer that is very serious not only to its business, but also to its connection with the capital market. iHunt manages to have a high momentum and finance business opportunities through the stock market in an example of flexibility and confidence that I find admirable. We want to see more companies following the same path and enter into a partnership with the market beneficial to both parties”, stated Ovidiu-George Dumitrescu, CFA, TradeVille Deputy CEO.

iHunt Technology Import Export started its activity in 2015, as a direct importer of mobile phones and accessories from China, with two employees and a share capital of RON 200. The company developed rapidly, and in July 2019 it was listed on the AeRO market within BVB’s Multilateral Trading System. At the end of the first day of trading on AeRO, iHunt had a capitalization of RON 12.2mn and, currently, the company has a capitalization of almost RON 98mn.

The company is a finalist of the 2019 edition of the Made in Romania program: BVB League, carried out by BVB to support and familiarize Romanian entrepreneurs with capital market mechanisms and access to financing.

iHunt sells the products both through the online store ihunt.ro and through over 200 physical stores "iHunt-Partner".

In addition to offering products under its own brand, iHunt also sells products from the portfolio of other Chinese manufacturers. The company has acquired advantageous and solid partnerships with suppliers, strong players in the Chinese market. The share of iHunt mobile phones in the total volume of telephone sales increased at an accelerated pace each year, from 44% in 2018, to 85% in 2019 and over 95% in the first half of 2020.

If in its first year of existence, iHunt registered a turnover of RON 2.4mn, the company increased constantly, so that for 2020, the company recorded a turnover of RON 42.6mn (+ 71% compared to 2019). iHunt recorded a profit of over RON 6.1mn, compared to RON 631,000 in 2019.

The founder of iHunt, Cezar Stroe, holds 74.28% of the company's shares, and his father, Corneliu Stroe, holds 5.15% of the shares. The difference of just over 20% of the shares is in the portfolios of other investors.

 

About TradeVille
TradeVille is a broker with over 26 years of experience on the Romanian capital market and offers retail clients easy and fast access to Bucharest Stock Exchange and major international stock exchanges. In 2020, TradeVille carried out over 50% of corporate equity and bond placements with a 100% success rate for companies in various industries. In 2021, TradeVille received the most trophies from the Bucharest Stock Exchange at the stock market performance awards ceremony: The 2020 Participant in the retail segment and the Intermediary of entrepreneurial companies at BVB in 2020 in the bond segment.