Romanian company Visual Fan, which produces electronic devices such as smartphones, smart TVs, and smart home solutions under the Allview brand, raised RON 15.5 mln (EUR 3.1 mln) in a private placement of shares on Friday, April 23.

The placement, managed by local brokerage firm Tradeville, was over six times oversubscribed as investors placed orders worth RON 99.2 mln (EUR 20 mln). The minimum subscription was 1,100 shares or RON 121,000 (EUR 24,600).

The company put up for sale 111,100 newly issued shares at a price of RON 110 to RON 140. The final price of the transaction was set at RON 140, resulting in an overall valuation of RON 155 mln (EUR 31 mln).

The next step is the company’s listing on the Bucharest Stock Exchange’s AeRO market, where the Visual Fan shares will trade under the ticker ALW.

Founded in 2002, Visual Fan has launched over 100 mobile phone models under the Allview brand, as well as 30 tablet models and ten laptop models. The company also sells Android TVs and had a market share of about 5% of the TV set sales in Romania in 2020.

Visual Fan produces its devices in China and sells them in Romania and over ten other European countries, including Germany and Poland.

In 2020, the company reached a turnover of RON 405 mln (EUR 83 mln), mainly due to COVID-19 related imports from China, such as face masks. Its recurring revenues stood at RON 103 mln (EUR 21 mln), up by 19% compared to 2019. The company’s net profit amounted to RON 22.3 mln (EUR 4.57 mln), of which the net profit from recurring activities was RON 7.04 mln (EUR 1.44 mln), up four times compared to 2019.

The company’s founder and majority shareholder is local entrepreneur Lucian Peticila.

editor@romania-insider.com

(Photo source: the company)