Bittnet issues new bonds on Bucharest Stock Exchange to finance expansion

Bittnet (BNET), the first IT company listed on the AeRO market of Bucharest Stock Exchange (BVB), launched its second corporate bonds issuance (BNET22) worth a total of RON 4.5 million, which began trading on the Alternative Trading System of BVB from November 28, 2017. The funds thus obtained will be used to chiefly finance the acquisition of Gecad Net, founded and previously controlled by the local entrepreneur Radu Georgescu.

“To acquire a business is, first of all, about people, team and, of course, partners, represented by suppliers and customers. We will strive for the transition to the new structure to be efficient and smooth for all parties involved. The new team will be aligned to Bittnet’s development goals and plans, which we have detailed upon both at the time of listing and in the annual and semi-annual reports: we aim to strengthen the leadership position on the IT training market and the largest multi-cloud integrator in Romania,” explained Mihai Logofatu, CEO of Bittnet.

The second issuance of Bittnet bonds takes place just 14 months after the first similar corporate event, which was worth RON 4.18 million.