FORT, a cybersecurity company within the Bittnet Group, debuted on the AeRO market of the Bucharest Stock Exchange today, May 17th, under the ticker 4RT. This listing followed a share capital increase and a private placement, through which FORT raised RON 1.67 million. The company’s anticipated market capitalization is nearly RON 51 million.
‘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 Ghita, CEO FORT.
The funds raised in the private placement will be used to acquire and integrate companies with similar activities and to strengthen business partnerships, as stated in the Listing Memorandum. FORT has already utilized part of the funding in the first quarter of 2024 to expand its sales team and launch promotional campaigns, according to company representatives. Additionally, the company is considering expanding its business into the USA, Southeast Asia, Western Europe, and developing innovative solutions based on new technologies.
The private placement and listing of FORT shares on the AeRO market were facilitated by TradeVille. A total of 33 investors participated in the share sale offer, including two qualified investors and 31 retail investors, which took place from November to December 2023. The company issued 33,527 shares with a nominal value of RON 0.1 each, at a price of RON 50 per share.
“We congratulate FORT on its debut on the AeRO market of the Bucharest Stock Exchange and are pleased with the growing interest of investors in the capital market. Our collaboration with FORT in mediating the private placement demonstrates that together we can create new opportunities on the capital market. We recommend that companies interested in the capital market show they have effective and credible management, prioritize sustained growth, and start active communication as early as possible,” said Miriam Andrei, CEO of TradeVille.
According to the Listing Memorandum, FORT plans to attract additional financing through the capital market via share capital increases or bond issues. The company also aims to distribute dividends and free shares to its shareholders.
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