BITTNET SYSTEMS S.A. (hereinafter referred to as the “Company/“Issuer”/”Group”) informs the market about a new public offer of corporate bonds, under the symbol BNET28.

The Financial Supervisory Authority approved the Prospectus (consisting of separate documents) regarding an offer according to the Decision of the Board of Directors dated 03.11.2023.

The new bond issue targets a maximum number of 100,000 unsecured corporate bonds, issued in ron, with a face value of RON 100 each and a total nominal value of RON 10,000,000.

The interest rate will be 9.6% per year, payable quarterly through the Central Depository system, and the maturity will be after 4 years and 6 months from the date of issue, respectively in June 2028. Subscriptions will be possible for a period of 10 days, respectively 10 trading day, between November 27 and December 12.

Investors will be able to place buy orders according to the method agreed with broker by which they will subscribe (directly on the platform, by phone or by filling in a subscription form). The price range in which the buy orders will be placed is RON 94 – RON 106 per bond, with step of 1 ron (respectively between 94% and 106% of the face value of the instrument), similar to the “price discovery” mechanism for Initial public offerings of shares.

After placing a buy order, investors will be able to change the subscription price (within the price range: 94 ron – 106 ron/bond, including the range limits) at any time during the subscription period. And the resulting value of the modified subscription order must be higher or equal to the previous valid value.

The updated subscription order will be considered valid, taking into account the modified order related to the subscription price at the end of the offer period. After 10 days of the public offer (December 12) the Issuer will settle (fix) the offer price (issuance price), according to the interval mentioned above.

Subscription orders placed at a price above the settled price or at the settled price will be accepted, while 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 the offer will buy the bonds from the Issuer at the same price.

After the offer period, the BNET28 bonds will be subject of application for admission to trading on the Regulated Market administered by the BSE, which has already sent to the Issuer the agreement for listing of the future issue.

Calendar of the BNET28 Initial Public Offering:

  • Publication of the initial public offering Prospectus: November 23
  • Offer period (subscription period): November 27 – December 12
  • Transaction date: December 13
  • Date of issuence: December 15

We attach to this current report the FSA Decision no. 1223/21.11.2023 approving the operation and the Prospectus consisting of separate documents (BNET28 Note, Universal Registration Document and Summary). The intermediary for this offer is SSIF BRK Financial Group SA and subscriptions can be made through all brokers authorized by FSA.

Nota de prezentare instrument financiar BNET28 – Prospect

Rezumat – Prospect

Document de inregistrare Universal – Prospect

Decizia ASF de aprobare Prospect BNET28