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Tuesday, October 22, 2019 
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Ascendia bonds issue will start trading on BVB ATS on October 2nd

10/1/2019

Bucharest Stock Exchange (BVB) informs that, on Wednesday, October 2nd, eLearning software developer Ascendia (ASC) corporative bonds issue, under the ticker ASC22, will start trading on BVB’s Alternative Trading System.

The issue comprises 30,000 bonds, non-guaranteed, RON denominated, with a nominal value of RON 100, a maturity of 3 years, and a total value of RON 3mn. The yearly interest rate is fixed at 10%p.a., payable half-yearly. The bonds were bougth by 35 investors, out of which 1 institutional investor and 34 individuals.

The capital will be used to accelerate the commercial activity, especially by increasing the sales and marketing capacity of 3 important business lines:

  • Corporate eLearning - Enterprise Learning Management System - Coffee LMS - for big and medium companies plus the development of bespoke eLearning courses;
  • Livresq.com - the digital platform that will allow all content creators in the educational field, from publishers to teachers to create interactive digital content in an easy way. The platform will be launched in its commercial version in the second half of 2019;
  • Timlogo.ro - the biggest speech therapy platform from Romania, launched in the second half of 2018.

 

The private placement through which Ascendia attracted the financing and the admission to trading of the bonds was assisted by Tradeville as Authorized Advisor.

The company was founded in 2007 by Cosmin Malureanu, the activity being focused on software development, mainly educational software. The year 2016 was an important step in the evolution of Ascendia, the company was admited to trading on the Bucharest Stock Exchange Alternative Trading System, the AeRO market, having previously attracted financing of RON 1.2mn through a private placement.