{"id":7030,"date":"2019-05-17T10:57:24","date_gmt":"2019-05-17T07:57:24","guid":{"rendered":"https:\/\/investors.bittnet.ro\/?p=7030"},"modified":"2019-06-19T14:10:20","modified_gmt":"2019-06-19T11:10:20","slug":"bittnet-group-reaches-historical-milestone-closes-thursdays-trading-session-with-market-capitalization-of-over-100-million-lei","status":"publish","type":"post","link":"https:\/\/investors.bittnet.ro\/en\/bittnet-group-reaches-historical-milestone-closes-thursdays-trading-session-with-market-capitalization-of-over-100-million-lei\/","title":{"rendered":"Bittnet Group reaches historical milestone, closes Thursday\u2019s trading session with market capitalization of over 100 million lei"},"content":{"rendered":"\n<p>On May 16<sup>th<\/sup>,\nBittnet Group (<a href=\"http:\/\/bvb.ro\/FinancialInstruments\/Details\/FinancialInstrumentsDetails.aspx?s=BNET\">BNET<\/a>), an AeRO listed company and the first ever IT\nissuer quoted on the Bucharest Stock Exchange, closed the trading session\nhaving overpassed RON 100 million in market capitalization. At the end of the\nday, Bittnet shares traded at a price of RON 1,88 and the total market\ncapitalization was RON 103,838,425, thus reaching a historical milestone for\nthe Group. Since listing on the AeRO market, Bittnet shares increased their\nvalue by 1333%.<\/p>\n\n\n\n<p>Bittnet was founded\nin 2007 by brothers Mihai and Cristian Logofatu and was initially focused on\ndelivering IT trainings but after few years, introduced the IT&amp;C\nintegration division. The company listed on Bucharest Stock Exchange\u2019s AeRO\nmarket for start-ups and SMEs in April 2015, following an infusion of capital\nfrom Polish pre-IPO fund, Carpathia Capital. At the time of the listing on\nAeRO, Bittnet had a market capitalization of RON 7,5 million, which means that\nthe company\u2019s valuation has increased over thirteen times in the course of 4\nyears. <\/p>\n\n\n\n<p>\u201cThe accelerated\njourney on which we have been for the past 4 years would not have been possible\nwithout the opportunities that were offered to us through the Romanian capital\nmarket and our shareholders, whom we thank for their constant support. We are\nhumbled by the trust provided us by the Bucharest Stock Exchange\u2019s investors\nand together with all our Colleagues, we remain committed to further growing\nBittnet Group, by setting even more ambitious goals for the future\u201d said Mihai\nLogofatu, CEO and Co-Founder of Bittnet.<\/p>\n\n\n\n<p>Today, Bittnet is a\nGroup of companies focused on two main domains of activity: technology and\ntechnology education, and it includes the following brands: Bittnet Training,\nEquatorial, Dendrio, Elian Solutions as well as Credis Academy. Since its\nlisting in April 2015, Bittnet has managed to attract approximately 10 million\neuro through capital market mechanisms \u2013 capital increases, bonds as well as by\ndistributing accrued profits through stock dividends. Out of that sum,\napproximately 6 million euro was raised during five consecutive corporate bonds\nissuances, which primarily fueled the Group\u2019s M&amp;A activity on the local\nmarket.<\/p>\n\n\n\n<p>\u201cWe recognize today\u2019s\nmilestone, of overpassing RON 100 million in valuation as a sign of trust on\nour promise to deliver RON 130 million in revenues by the end of this year. While\nlast two years were dedicated to expanding our business though M&amp;A activity,\nfor the next 2 years we envisage the consolidation and strengthening of our\nmarket position on the local and external markets. The process, even though it\nsounds static, will help us double our revenues by the end of this year, which\nwe consider important ahead of our transfer to Main Market\u201d said Cristian\nLogofatu, Co-Founder and CFO at Bittnet.<\/p>\n\n\n\n<p>In 2018, BNET was the most liquid stock on the\nAeRO market and recorded over 3,500 transactions. The valuation of the company\ngrew by 55% in 2018. Since the beginning of 2019, BNET stock price has\nincreased with 66%, from RON 1,13 (closing price on January 3<sup>rd<\/sup>,\n2019) to RON 1,88 (closing price on May 16<sup>th<\/sup>, 2019). &nbsp;In October 2018, Bittnet Group has announced\nits intention to transfer to the Main Market of the Bucharest Stock Exchange, a\ndecision which has been approved by the General Shareholders Meeting from\nDecember 2018. The management expects the formal process of moving Bittnet\nGroup to BVB\u2019s Main Market to finalize in the fourth quarter of 2019. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>On May 16th, Bittnet Group (BNET), an AeRO listed company and the first ever IT issuer quoted on the Bucharest Stock Exchange, closed the trading session having overpassed RON 100 million in market capitalization. At the end of the day, Bittnet shares traded at a price of RON 1,88 and the total market capitalization was&#8230;<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[398],"tags":[],"class_list":["post-7030","post","type-post","status-publish","format-standard","hentry","category-latest-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bittnet Group reaches historical milestone - capitalization of over 100 mil lei<\/title>\n<meta name=\"description\" content=\"Bittnet Group reaches historical milestone, closes Thursday\u2019s trading session with market capitalization of over 100 million lei\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/investors.bittnet.ro\/en\/bittnet-group-reaches-historical-milestone-closes-thursdays-trading-session-with-market-capitalization-of-over-100-million-lei\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bittnet Group reaches historical milestone - 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