BITTNET SYSTEMS S.A. (referred to as the “Company” / “Issuer”) informs investors and the capital market about an initial public offer for sale of corporate bonds, under the symbol BNET28A.

The Financial Supervisory Authority approved the Prospectus (consisting of separate documents) regarding the Offer according to the Decision of the Issuer’s Board of Directors dated 28.02.2024. The new issue consists of a maximum number of 150,000 corporate bonds, unsecured, non-convertible, issued in national currency, with a nominal value of 100 ron each and a total nominal value of 15,000,000 ron. The interest rate is 9% per year, payable quarterly through the Central Depository system, and maturity will be at 4 years from date of issue, in April 2028. Subscriptions will be possible for 10 working days, (trading days) between: 02 April and 15 April 2024.

Investors will be able to place buy orders according to the method agreed with the broker by which they will make the purchase (directly in the trading platform, by phone or by filling in a subscription form). The price range in which the purchase orders will be placed is: RON 94 – 106 , quotation step 1 ron (respectively between 94% and 106% of the nominal value of the instrument). After placing a subscription order, investors will be able to change the price (within the range: 94 ron – 106 ron/bond) at any time during the offer period.And the resulting value of the modified subscription must be greater than or equal to the previous valid value. The modification of the subscription order will be considered valid, taking into account the modified subscription related to the subscription price from the end of the offer period.

At the end of the offer period, after 10 days of the public offer on April 15, the Issuer will set the offer price/issuance price, according to the interval mentioned above. Subscription orders placed at a price above the offer price or at the offer price will be accepted, while subscription orders below this price will be invalidated. All subscriptions accepted by the Issuer will be validated at the same price (offer price/issue price) so that all investors who subscribed in this offer will buy BNET28A bonds from the Issuer at the same price.

After the offer period, BNET28A bonds will be the subject of an application for admission to trading on the Regulated Market administered by the BVB, which has sent the Issuer the initial agreement for listing of the future issue.

BNET28A Public Offer Calendar:

  • Publication of the Prospectus of the primary public offering: March 29th
  • Offer period (subscription period): April 02nd – April 15th
  • Date of transaction: April 16th
  • BNET28A issue date: April 18th

We attach to this current report the FSA Decision no. 319/28.03.2024 approving this operation and the Prospectus consisting of separate documents (Presentation Note, Universal Registration Document and Summary). The offer is mediated by SSIF TradeVille and subscriptions can be made through all brokers authorized by FSA.