IPO

Bulgarian Wiser Technology aims to raise €12.6M via IPO

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Bianor Holding AD, operating under the brand Wiser Technology, has received approval from the Bulgarian Financial Supervision Commission (FSC) to initiate an initial public offering (IPO) on the Bulgarian Stock Exchange (BSE). This approval marks the formal start of the company’s capital increase process. A tentative timeline for the offering has been provided, with a final schedule to be released upon further approval by the BSE.

Wiser Technology aims to issue up to 4,096,711 new shares at an offering price of €3.07 per share. If fully subscribed, the company stands to raise €12.6 million, increasing its total number of shares to 16,386,844.

The lead arranger for the IPO is Sofia International Securities, which will be handling the structuring and sale of the shares.

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Wiser Technology: A Leading Provider of Advanced Software Solutions

Wiser Technology specializes in designing, developing, and operating mission-critical software solutions for global leaders in various industries, including automotive, aerospace & defense, telecommunications, and financial services. With a strong focus on technology innovation and engineering excellence, the company has established itself as a trusted provider to some of the world’s most demanding organizations.

Operating from multiple delivery centers in Bulgaria, Greece, and Serbia, Wiser Technology boasts a team of more than 400 highly skilled software engineers and computer scientists. Headquartered in Sofia, Bulgaria, the company also has a consulting office in New York to support its global operations.

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Impressive Financial Growth and Strategic Acquisitions

Since the beginning of 2023, Wiser Technology has raised over €14.3 million through its initial offering on the BSE. The influx of capital has enabled the company to complete six acquisitions, significantly boosting its financial performance. For the first half of this year, Wiser Technology reported pro forma consolidated revenues of €13.8 million, a more than ninefold increase compared to the same period last year.

CEO Kosta Jordanov expressed optimism regarding the IPO, noting that investors have already committed €11 million. Jordanov outlined that the funds raised will primarily be used for acquisitions in Western Europe and to cover bridge financing used for a prior acquisition of Digital Lights.

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Investor Engagement and Future Outlook

Wiser Technology’s management will host an open meeting on September 11th, 2024, at 4 p.m. at the Hyatt Regency Sofia Hotel to discuss the company’s strategic goals and the upcoming capital increase. Investors and interested parties are encouraged to attend the event, which will provide an opportunity for direct engagement with the company’s leadership. The meeting will also be streamed live on Wiser Technology’s YouTube channel.

Indicative IPO Schedule

  • September 4, 2024 – Publication of the prospectus
  • September 17, 2024 – Start of rights transfer and share underwriting
  • October 4, 2024 – End of rights trading
  • October 24, 2024 – Registration of newly issued shares
  • December 5, 2024 – Start of trading of new shares on the BSE

With this IPO, Wiser Technology is poised to strengthen its position in the European tech market, expand its portfolio, and continue its impressive growth trajectory.

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