Softbinator Technologies, a Romanian software development company, specialized in the design, development, and launch of innovative products, went public on the AeRO market. The shares are traded under the ticker symbol CODE. Before listing, the company managed to attract RON 6mn 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. Today’s listing consolidates the presence of the IT sector on the Romanian capital market, being the twelfth company in this sector present on the Stock Exchange and the ninth listed only this year. ‘Softbinator Technologies debut on the stock market brings fresh air for stock market investors eager to invest in a field as current and necessary as the software industry. It is the 23rd listing of a company this year, implicitly the 20th on the AeRO market, to which are added 32 issues of corporate bonds and 12 issues of Fidelis government bonds. The value and the number of financing rounds carried out in 2021 show us the capacity of the capital market to support the development plans of Romanian entrepreneurs and, especially, the growth potential of the AeRO market. The Romanian stock market is here to support all entrepreneurs, with financing mechanisms built according to their needs’, said Radu Hanga, President of the Bucharest Stock Exchange. ‘I am delighted that starting from a concept developed ten years ago in Bucharest as a community consisting of a few programmers and us, today Softbinator Technologies is a public company listed on the Bucharest Stock Exchange. We are ready to develop and become a global company in the software development services market. In this regard, since the successful closing of the private placement, we have been working intensively and taking the necessary steps to open a Softbinator Technologies office in California, USA, in the first part of 2022. At the same time, we have carried out the first M&A operation through the acquisition of WiseUp, a local software development company. Therefore, 2022 seems to be an intense one for our activity. I want to thank my colleagues for their unlimited efforts over time and their ability to deliver results quickly. We also thank the investors for their trust in our development plans and hope that as many CODE shareholders as possible will join us in the next period’, stated Daniel Ilinca, founder and CEO of Softbinator Technologies. The company sold 100,000 shares in a private placement carried out in 28th of September 2021. 128 retail and professional investors subscribed during the private placement at a price of RON 60 per share. The private placement and the listing were made with the support of TradeVille. Cornerstone Communications will assist Softbinator Technologies as an Authorized Advisor after listing. ‘We are pleased to end the year with a new listing of a technology company on the Bucharest Stock Exchange. The fact that most of Softbinator's services and software products are sold abroad is an additional reason to rejoice that the stock market supports both innovation and Romanian exports. We thank the investors for their interest and wish the Softbinator team a long and wonderful experience as a new issuer listed on our stock exchange’, said Ovidiu-George Dumitrescu, CFA, Deputy Director TradeVille. ‘IT is by far the most active sector this year on the Bucharest Stock Exchange in terms of the number of companies listed in 2021. We are glad to be together with Softbinator Technologies during this landmark moment for them. Their agile methodology and extensive knowledge of state-of-the-art technologies are features that underpin the company's growth potential. We wish Daniel and his team every success in achieving their goals and look forward to working together to develop the relationship with CODE investors and shareholders’, stated Zuzanna Kurek, founder of Cornerstone Communications. Softbinator Technologies was founded in 2017 and currently has approximately 100 employees and collaborators operating both in its headquarters in Bucharest and in Constanta. The Softbinator concept took life in 2011, in the form of a community of programmers in Bucharest, at the initiative of Daniel Ilinca, currently CEO of the company. Softbinator Technologies currently provides services to customers in the US, Israel, Singapore, Romania, UK. In 2020, Softbinator Technologies recorded a turnover of RON 12.3mn and a net profit of RON 2.6mn. In the first half of 2021, the company registered sales of 7.78 million lei, +43% compared to the same period last year, and a net profit of RON 1.39mn, +18%. Softbinator Technologies estimates revenues of RON 16.2mn and a profit of RON 3.4mn for 2021. Softbinator Technologies targets to grow at Compound Annual Growth Rate in the next four years of 70%. The company has a number of 167 shareholders, of which three significant: Daniel Ilinca, founder and CEO, with 46.26%, Bittnet Systems with 18.9% and Simple Capital with 8.09%. (Photo:bvb.ro)
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