FORT shares, a Bittnet Group company, starts trading on AeRO market

Business Forum

17 May, 2024 at 2:32 PM

FORT, a company specialized in cyber security, part of the Bittnet Group, debuted today, May 17th, on the AeRO market of the Bucharest Stock Exchange under the stock ticker 4RT. The listing of the company took place after a share capital increase and a private placement following which FORT attracted RON 1.67 million. The anticipated market capitalization of the company amounts to almost RON 51million.

”The AeRO market continues to be the right place for emerging and growing companies. The Romanian capital market gives them access to various financing mechanisms and, at the same time, visibility and notoriety. FORT steps today onto the scene of listed companies and, through their presence on the stock exchange, strengthens the IT&C sector in the local capital market,” said Radu Hanga, President of the Bucharest Stock Exchange.

”We are happy to have started this new chapter in the life of FORT, as a public company listed on the Bucharest Stock Exchange. The listing of FORT's shares on the AeRO market leads to a new stage in the development of our company, and we want to use the mechanisms we have on the capital market as efficiently as possible to finance our business growth', said Vladimir Ghiță, CEO FORT.

The funds raised in the private placement will be used for the acquisition and integration of companies with a similar activity and for the consolidation of business partnerships, according to the Listing Memorandum. According to its representatives, FORT has already used, in the first quarter of 2024, part of the funding attracted to expand the sales team and carry out promotional campaigns, according to company representatives.

Also, the company is considering expanding the business in the USA, Southeast Asia, Western Europe, and thedevelopment of innovative solutions based on new technologies.

The private placement and listing of FORT shares on the AeRO market was made with the support of TradeVille. A number of 33 investors, including two qualified investors and 31 retail investors, participated in the share sale offer, which took place in November - December 2023. Following the placement, the company issued 33,527 shares, with an individual nominal value of RON 0.1, at a price of RON 50 per share.

”We congratulate FORT for its debut on the AeRO market of the Bucharest Stock Exchange and we enjoy the continuously growing interest of investors in the capital market. Our collaboration with FORT through private placement mediation proves that together we can open new opportunities on the capital market. Our recommendation for all companies interested in the capital market is to demonstrate that they have a performing and credible management, prioritize sustained growth and initiate active communication as early as possible,” stated Miriam Andrei, CEO TradeVille.

According to the Listing Memorandum, FORT is considering attracting new financing through the capital market, through share capital increases or bond issues. The company also aims to distribute dividends and free shares to its shareholders.