Shares in Chinese mobile phone importer iHunt will start trading on the alternative trading system of the Bucharest Stock Exchange (BVB) on July 9, following the company’s IPO, the BVB said in a statement.
“The strategic objective of the company is to become, over a two-year timespan, the largest direct importer of Chinese mobile phones under its own brand, included in the portfolio of major local operators,” the exchange said in a statement.
As reported earlier, iHunt plans to put new shares accounting for 10% of its capital up for sale, but more shares, up to 25% of the capital, might be issued depending on the demand. The company’s shares will be traded on the special AeRo section, where the listing requirements are looser than on the regulated market.
The main shareholder of iHunt Technology Import Export Ploiesti is Romanian entrepreneur Cezar Catalin Stroe (99.5%). Since its launch with two employees in 2015 the company has grown to a business with 25 employees, a share capital of RON1.4mn and a turnover of over RON24mn/