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The shares of Romanian cybersecurity firm Safetech rose 500% in the first trading day on January 29, compared to the price in the private placement last October, putting the company’s market capitalisation at RON75mn (€15.4mn).
Last autumn, the two founders of the firm sold 20% of the company for RON2.5mn — a stake that is now worth RON15mn — in a private placement brokered by TradeVille. At that time, investors placed orders worth in excess of three times the sum asked for by investors.
The value of the trades in just 25 minutes after the listing on January 29 was RON5.2mn, which makes Safetech the best debut for an entrepreneurial company in terms of liquidity after MAM Bricolaj, listed earlier this year.
According to the listing documents, the company estimated Ebitda of RON3.3mn (€0.68mn) in 2020 and RON3.8mn this year, but the company’s representatives said that last year’s results (to be released on February 22) were actually better and this year’s forecast will consequently be revised upward.
Speaking of the bottomline, the company estimated RON2mn net profit for 2020 to rise at RON2.5mn this year. Such profits would be backed by revenues in the amount of RON12.7mn last year and RON13.9mn in 2021.
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