Arctic Stream, a provider of services and equipment in the market of communications technologies, data centres and software solutions, completed a RON 21 mln (EUR 4 mln) private placement of shares successfully.

The anticipated capitalization of Arctic Stream stands at almost RON 105 mln (EUR 20 mln).

The company will list its shares on the multilateral trading system operated by the Bucharest Stock Exchange (BVB), on the AeRO market, with the symbol AST. TradeVille will assist the listing in its capacity as Authorized Consultant.

The placement was heavily oversubscribed, with investors bidding for seven times more shares than the target, Ziarul Financiar reported. In the private placement, 838,260 shares were offered for sale (20% of the company's shares), the final price established being RON 25 per share.

Dragoş Octavian Diaconu, founder and CEO of Arctic Stream, is the one who is selling part of his shares. He held before the placement 3.6 mln shares, representing 86.1% of the company's share capital.

andrei@romania-insider.com

(Photo source: Pixabay.com)