The shares of the Romanian cybersecurity company Safetech Innovations (SAFE) will start trading on the Bucharest Stock Exchange's AeRO market on January 29.
In October 2020, the company raised RON2.5mn (€500,000) from local investors through a private placement managed by local brokerage firm Tradeville.
Based on that transaction, the company's estimated market capitalisation is RON12.mn (€2.6mn). However, the share price will likely jump significantly on the first day of trading, given investors' high interest in Safetech's shares.
The private placement in October closed in just 37 seconds, and the investors placed total orders worth RON21.4mn, 8.57 times more than the available amount.
Safetech's main shareholders are Victor Gansac, CEO, and Paul Rusu, chief financial officer, with 40% each. The company will use the money drawn from investors to co-finance the development of a centre of excellence for cybersecurity and resilience of critical infrastructures, called SafePIC, a €4mn project that is 70% financed by the research ministry.