Initially listed on the AeRO market of the Bucharest Stock Exchange following a successful private placement in which it raised RON 74 million, AROBS quickly became one of the most liquid companies on this market. Over time, the company attracted growing interest from investors, securing a leading position in the BET AeRO index. Its strong performance led to the inclusion of its shares in the MSCI Frontier Markets Small Cap and MSCI Romania Small Cap indices in 2023, positioning AROBS as a leader in the AeRO market. On September 25, 2023, the company debuted on the Main Market of the Bucharest Stock Exchange, and as of March 2024, AROBS shares are included in the FTSE Global Micro Cap index.
A defining moment in AROBS' evolution on the capital market was the share capital increase completed in July 2024, through which the group raised 143 million lei from local and international investors to continue its development. In total, 96% of the shares offered were subscribed by institutional investors, marking the first capital increase by a technology company in which a significant majority of the capital was subscribed by institutional investors.
"Looking back on the three years since our listing on the Bucharest Stock Exchange, we can see how this pivotal moment allowed us to turn capital market opportunities into tangible results for the company. The transfer to the Main Market and the success of this year's share capital increase have consolidated our position in the IT&C industry locally and regionally, providing us with the resources needed to accelerate international expansion, identify new acquisition opportunities, and invest in innovation. Looking ahead, we will continue focusing on growth objectives through M&A and organic development. We are analyzing several companies but are proceeding cautiously, considering the significant pressures facing the IT market and the global economy. At the same time, we aim to capitalize on the synergies resulting from previous acquisitions and their efficient integration into the Group structure," stated Voicu Oprean, founder and CEO of AROBS.
Financially, AROBS has achieved significant growth over the three years since its listing on the Bucharest Stock Exchange. On a consolidated level, total assets grew by 348%, from RON 142.4 million as of December 31, 2020, to RON 638.3 million as of September 30, 2024. The cash position increased by 413%, from RON 46.5 million in December 2020 to RON 238.4 million as of September 30, 2024. Consolidated turnover grew by 134%, from RON 173.1 million as of December 31, 2020, to an estimated 404.9 million lei for 2024.
"Although we have been listed on the Bucharest Stock Exchange for three years, I cannot overlook the fact that this week we reached a negative milestone in AROBS' history, recording the lowest share price since the private placement in 2021. This decline reflects investors' lack of confidence in the business environment and the growth prospects of the IT sector, amid factors such as political instability in Romania and the geopolitical situation in Ukraine. While this context may seem to have erased three years of progress from a capital market perspective, the reality is that the AROBS Group is stronger and healthier than it was three years ago, making us confident that we are on the right path and prepared for new opportunities," added Voicu Oprean.
From a trading perspective, over the past three years, AROBS has been among the most active listed companies, with a total trading volume of 248 million shares and a total transaction value of approximately RON 286 million as of December 3, 2024. Between the beginning of the year and December 3, 2024, the average daily trading volume of AROBS shares was approximately 344,000 shares, with an average daily transaction value of around RON 310,000. Moreover, in terms of liquidity, AROBS ranked as the 18th most traded company overall and the 8th most traded entrepreneurial company on the Bucharest Stock Exchange in 2024.
In terms of investment activity, over the three years since its listing, AROBS has invested over 200 million lei in 10 M&A transactions, using a mix of capital raised during the 2021 private placement, bank financing, and internal resources. As a result of these transactions, the Group has acquired companies operating in the same industry, adding value through the consolidation and expansion of AROBS' expertise and geographical footprint.
