BNET28A: IPO of corporate bonds at variable price

During the Offer period, 02.04.2024 – 15.04.2024, you can buy new Bittnet bonds, directly from the Issuer. You set the subscription price yourself, in the range of 94 – 106 ron/bond.

Important is that you can change the price whenever you want, within the Offer period and within the subscription interval. The price of the valid order from the end of the Offer period – from the last day of subscriptions – will be taken as last price of the order. On the last day of the offer (April 15 at 12:00) but after the close of the subscription period, the Issuer will set the issue price according to the buy orders placed until then, their size and the investors’ interest.

Cristian Logofatu, Bittnet Group Co-Founder, about BNET28A
(Video is in Romanian)

Buy orders placed at a higher price or fixed (issue) price will be accepted, buy orders placed at a price lower than the issue price will be invalidated, so all investors with accepted orders will be allocated BNET28A bonds at the same price (issue price). We have made the process as easy as possible so that you can subscribe in any way agreed with your broker: either by phone, online, or by completing and submitting the subscription form. It is very important that subscriptions are made through all brokers/intermediaries authorized by ASF. In practice, you can subscribe through any of the brokers where you have already opened a trading account. In case you encounter any kind of problems when placing the order or your broker doesn’t want to take it, you can contact us:

  • either by filling out the attached contact form, or
  • write us directly at , or
  • by telephone: 0740.273.611. Our colleague Lucian Bratu will answer your questions related to the BNET28A Bonds Offer


    Bittnet is a company listed on the Main Market of Bucharest Stock Exchange (BVB). Investing in the shares or bonds of companies listed on the stock exchange presents multiple risks, the most important being the risk of the complete and definitive loss of the investment. Another important risk specific to bonds is liquidity risk – that is the inability to sell the bonds you own due to a lack of interest from potential buyers. Given the profile of the BNET28A instrument, the issuer cannot guarantee the liquidity level of this bonds. The liquidity and future trading price of the BNET28A bonds depend on many factors, including, but not limited to, prevailing interest rates, the results of the activities of the issuer and the group of which it is part of, the market for similar securities and general economic conditions. As a result, the issuer cannot ensure that an active secondary trading market will actually develop for the BNET28A 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 may not be able to sell the bonds at the desired market price.

    There are numerous other risks, described in detail in the Offer documentation, but also 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 documentation attached to the Offer!

    The approval visa applied to the offer documents has no guarantee value, nor does it represent another form of assessment by the Financial Supervisory Authority (ASF) regarding the opportunity, advantages or disadvantages, profit or risks that the transactions could present with the securities of the Issuer. 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.

    Info about BNET28A

    Between April 2 and April 15, 2024, Bittnet Group is running an initial public offer for sale of corporate bonds, unsecured, dematerialized and denominated in RON, with a nominal value of 100 RON/bond and a total nominal value of 15,000,000 ron. The funds raised will be redirected to finance current activity, in particular the significant contracts Bittnet Group companies currently have in progress and which have been announced on capital market news feeds. The interest on the BNET28A bonds is fixed, 9% per year, with quarterly payment frequency through the Central Depository, and the maturity of the issue is at 4 years, i.e. in April 2028. The nominal value at which the interest is calculated is 100 ron, as well as the amount per bond issued that Bittnet will repay at maturity.

    Buy orders in the Offer can be made in the range price 94 – 106 ron, including the limits of the range. At the end of the Offer period, the Issuer will set the issue price, and orders placed at this price or a higher price will be accepted. Orders placed below the issue price will be rejected. All investors will purchase the bonds from the Issuer at the same price. All investors will be able to buy BNET28A bonds, during the Offer period, regardless of the intermediary where they have the trading account. Subscriptions can be made through all brokers, depending on the method agreed between the brokers and their clients: by phone, mail, directly in the trading platform, or by filling out a subscription form. The funds obtained will be used to ensure the general financing needs of the Bittnet group’s current activity, with a focus on significant contracts, some of them with a pre-financing component.

    In order to make an informed decision, we invite you to read the documentation related to this Public Offer, namely the Prospectus composed of separate documents:

    The above documents make up the Prospectus consisting of separate documents and approved by the ASF through Decizia nr. 1223/21.11.2023

    BNET28A calendar:

    • 29 March: the Prospectus publication
    • 02 April – 15 April: offer period
    • 15 April: price fixing price
    • 16 April: date of the transaction
    • 18 April: allocation date (BNET28A issue date)

    Informatii utile


    For any additional information about this offer you can contact us: