Romanian IT company Arctic Stream plans Bucharest Stock Exchange listing in Q3

Romanian IT company Arctic Stream plans Bucharest Stock Exchange listing in Q3
By bne IntelliNews May 25, 2021

Arctic Stream, a provider of services for communications technologies and equipment, data centres and software solutions, plans a private placement of shares followed by the listing of the new shares on the Bucharest Stock Exchange (BVB) in the third quarter of 2021.

"We want to move to another level of development, by accessing the capital market," said Dragos Octavian Diaconu, founder and CEO of Artic Stream, in a press release issued by the company. 

The private placement and the operations necessary for the listing will be mediated by TradeVille, the largest retail broker on the Romanian stock exchange.

"Unlike other issuers, in our case the main objective of the listing is not, in a first phase, meeting immediate financing needs, but increasing the company's visibility and credibility, which will help attract new talent to the team, in the context of high demand for labour in the IT field," said Diaconu.

Arctic Stream recorded a turnover of approximately €8mn in 2020, over 120% more compared to 2019, and a net profit of over €1.2mn, three times higher than in 2019.

Arctic Stream is a company with fully Romanian capital, founded in 2017, with a portfolio of services that includes IT infrastructure evaluation, consulting, design, redesign, integration and development of data and IT security infrastructure, project management, configuration, implementation and migration of complex solutions, as well as post-implementation maintenance and operational support.