BNET31E: IPO of corporate bonds at variable price
During 10 days, 24.07.2026 – 10.08.2026, you can buy Bittnet bonds denominated in EUR. The subscription price is set by you, within the range: 94 – 106 eur/bond.
The price setting mechanism
You can change the price whenever you want, within the Offer period and the subscription interval. The price of the buy order valid at the end of the period is taken into account. When subscriptions close, the Issuer sets the price depending on the volume and value of orders placed by investors. Subscriptions placed at or above the issue price are accepted; those below the issue price are invalidated, so that all investors with accepted orders will buy BNET31E eurobonds at the same price.
We have made the process as easy as possible so that you have the opportunity to subscribe in any way agreed with your broker: by phone, online, directly from your trading account, or by completing and submitting the subscription form. The subscriptions are made through all intermediaries authorized by the ASF (any broker active on the capital market in Romania). In practice, you can subscribe through any of the intermediaries where you have already opened your trading account.
If you encounter any problems when submit your order or your broker does not want to take it, you can contact us, either by completing the contact form attached:
- by writing to us directly at investors@bittnet.ro,
- by calling us at 0740.273.611. Our colleague Lucian Bratu will answer your questions related to the BNET31E Offer and how to subscribe within it.
BNET31E are corporate bonds, secured, non-convertible, denominated in euro, with an individual nominal value of 100 euro and issued in dematerialized form. The Central Depository will keep records of BNET31E bondholders.
Bond risks
Bittnet is a company listed on the Main Market of the Bucharest Stock Exchange. Investing in shares or bonds of companies listed on the stock exchange presents multiple risks, the most important being the risk of total and final loss of the investment.
Another important and specific risk of bonds is liquidity risk – namely the impossibility of selling the bonds you hold due to the lack of interest from potential buyers. Given the profile of the BNET31E instrument, the Issuer cannot guarantee the level of liquidity of the bonds. The liquidity and future trading price of the BNET31E bonds depend on several factors, including, among others, prevailing interest rates, the results of the activities of the issuer and the group to which it belongs, the market for similar securities and general economic conditions.
As a result, the Issuer cannot assure that an active secondary trading market will actually develop for the BNET31E bonds. Therefore, the fact that bonds will be listed does not necessarily lead to greater liquidity compared to unlisted debt instruments. In an illiquid market, there is a possibility that an investor will not be able to sell the bonds at the desired market price.
There are numerous other risks, described in detail in the Offer documentation, as well as in the periodic and annual reports, as well as in the Universal Registration Document. Before investing in any financial instrument, we encourage you to carefully read all the Offer documentation as well as the section dedicated to Risk Factors!
The approval stamp applied to the Offer documents has no guarantee value and does not represent another form of assessment by the Financial Supervisory Authority (ASF) regarding the opportunity, advantages or disadvantages, profit or risks that transactions with the Issuer’s shares and bonds could present. The approval decision only certifies the regularity of the document with regard to the requirements of the law and the rules adopted in its application.
The premiere that the BNET31E Offer comes with is the guarantee attached by Bittnet to them. Compared to the previous 9 Bittnet bond issues (of which 6 were repaid early or at maturity), the 10th issue consists of Guaranteed Bonds. The guarantee is established on Bittnet’s holding in the subsidiary Dendrio Solutions, a percentage that will fully cover the nominal value of the issue plus 5 years of interest. The guarantee is registered in the records of the RNPM (National Register of Mortgage Advertising) as a first-rank mortgage on Dendrio shares, in the name of the Guarantee Agent (BRK Financial Group) and will be adjusted according to the volume of BNET31E bonds issued.
Dendrio was valued in May 2026 by an independent appraiser at approx. 30 million euro.
About the BNET31E Offer
Bittnet Group is conducting a new primary public offering of corporate bonds, secured, non-convertible and denominated in euro. A maximum of 150,000 bonds are offered for subscription, with an individual face value of 100 euro and a maximum total nominal value of 15,000,000 euro.
The interest is fixed, 10.6% per year, payable semi-annually through the Central Depository, and the maturity is 5 years from the date of issue (July 2031). The minimum subscription is 10 bonds. Unlike previous issues, the BNET31E bonds are guaranteed by a 1st rank mortgage, registered in the National Register of Securities, on a percentage of the shares of Dendrio Solutions SRL (a subsidiary of Bittnet).
Subscription orders will be placed in the price range of 94 – 106 euro, including the limits of the interval; at the end of the period, the Issuer sets the issue price, and all investors will buy at the same price.
Subscriptions can be made through any of the brokers accredited by ASF to carry out brokerage activities on the Romanian stock exchange; and the subscription method is the one agreed upon by them with their clients (by phone, online from the trading account or through the subscription form). The Offer Intermediary is BRK Financial Group.
The funds raised will be used to refinance bonds that will mature in the coming years, or to finance the current activity of the Bittnet group.
In order to take an informed decision, we invite you to read carefully and before subscribing the documentation related to this Public Offering, namely the Prospectus composed of distinct documents:
The above documents compose the Offering Prospectus composed of distinct documents and which was approved by the ASF by Decision no. 745/20.07.2026
BNET31E public offering calendar:
- July 20: publication of the Offer documentation, the Prospectus
- July 24 – August 06: Offer period (on the last day, subscriptions can only be submited until 14:00)
- August 06: establishment of the Offer price by the Issuer (publication of the current report at 18:00)
- August 07: transaction date on the BSE
- August 11 : settlement date (BNET31E issue date and the date from which the interest for coupon payments is calculated)
Info
Contact
For any additional information regarding the Offer, answers to questions or clarifications regarding the subscription method, please:
- complete the attached contact form or
- contact Lucian Bratu: +40 740 273 611 | Email: investors@bittnet.ro / investors@bittnet.ro