Wiser Technology to Raise €12.6M via IPO
The Financial Supervision Commission Approves Bianor Holding’s Prospectus for Capital Increase via the Bulgarian Stock Exchange
Sofia, Bulgaria, September 5ht, 2024 – Bianor Holding AD (BSE: BNR), operating under the brand Wiser Technology, received approval from the Bulgarian Financial Supervision Commission (FSC) to proceed with an initial public offering (IPO) of shares on the Bulgarian Stock Exchange (BSE). This approval marks the commencement of the capital increase process. An indicative schedule is available at the end of this announcement, and the final schedule will be released upon approval by the BSE.
Wiser Technology plans to issue up to 4,096,711 new shares at an issue price of €3.07 per share. If fully subscribed, this capital increase will bring in €12,6M and increase the total number of company shares to 16,386,844.
Sofia International Securities has been appointed as the lead arranger for this offering.
Since the beginning of 2023, Wiser has raised over €14.3M through an initial public offering on the BSE. The capital increase has facilitated six acquisitions, boosting the company’s pro forma consolidated revenues to €13.8M for the first half of this year – an increase of more than nine times compared to the same period last year.
“We are pleased to see considerable interest from investors, with close to €11M already committed,” said Kosta Jordanov, CEO of Wiser. “The proceeds from this capital increase will be used for acquisitions in Western Europe and to cover bridge financing used for the acquisition of Digital Lights earlier this year,” Jordanov added.
Wiser’s management invites the investment community to an open meeting on September 11th, 2024, at 4 p.m. at the Hyatt Regency Sofia Hotel. The meeting will provide further details on the company’s strategic plans, as well as the objectives and parameters of the upcoming capital increase. Participants will have an opportunity to engage directly with the management team. The meeting will be held in English and is open to all interested parties upon registration [here]. Additionally, it will be streamed live on the company’s YouTube channel.