- The first bond issue of the online retailer and producer of mobile phones and gadgets iHunt has started trading on the BVB Multilateral Trading System, under the ticker HUNT23.
- Radu Hanga, BVB Chairman of the Board:
- We are glad to see that iHunt fulfills its promise from the day of listing, to use the mechanisms of the capital market to attract financing, being, at the same time, an example for other Romanian companies. This bond issue, listed today, and the round of financing concluded at the end of January by iHunt prove that BVB investors are attentive to investment opportunities and are willing to invest in companies with development prospects”.
- Cezar Stroe, founder and CEO, iHunt:?
- ”It is a great honor to list the first issue of iHunt bonds, under the ticker HUNT23. The overwriting and early closing of the HUNT23 bond issue reflects investor confidence in the iHunt business. Funding attracted through investor confidence will serve as a foundation for the brand development in 2021”.
- Ovidiu Dumitrescu, Deputy CEO, TradeVille:?
- ”Technology is part ofTradeVille’s DNA, so conducting financing rounds for companies in this field is natural for us. After the success of the placement for HUNT23, whose listing we can see today, has already followed a second successful offer for the same company”.
The online retailer and manufacturer of mobile phones and gadgets iHUNT (HUNT) listed its first corporate bond issue on the Bucharest Stock Exchange (BVB), on the Multilateral Trading System (SMT). The issue has a nominal value of RON 7mn and includes 70,000 bonds with a 3-yrs maturity and a face value of RON 100/ bond. The bonds were issued in November 2020 and have a fixed interest rate of 8.75% p.a., payable half-annually.
"We are glad to see that iHunt fulfills its promise from the day of listing, to use the mechanisms of the capital market to attract financing, being, at the same time, an example for other Romanian companies. This bond issue, listed today, and the financing round concluded at the end of January by iHunt prove that BVB investors are paying attention to investment opportunities and are willing to invest in companies with development prospects. Also, the evolution of iHunt's shares at BVB and the financing rounds carried out by iHunt, one of the finalists of the Made in Romania program run by BVB, strengthen our belief that this program is a good launching pad in the investment world for Romanian companies", said Radu Hanga, Bucharest Stock Exchange Chairman of the Board.
"iHunt is the first finalist company of the Made in Romania program developed by BVB that successfully managed to be listed on the AeRO market. Through the Made in Romania program and the workshops conducted by BVB, iHunt became aware of the possibility of accelerated funding and growth, which it subsequently applied. After listing the company in 2019 and confirming the strong growth strategy in 2020 with excellent results, iHunt concludes, in advance, with a 45% oversubscribed offer, a first private placement of corporate bonds, which together with BVB we can list today with the ticker HUNT23. Investor confidence honors us, but at the same time obliges us to the performance and rapid development of the iHunt brand", said Cezar Stroe, iHunt founder and CEO.
The company conducted a private bond sale at the end of October, carried out by SSIF TradeVille. Investors placed subscription orders worth over RON 10mn, compared to the target value of iHunt of RON 7mn. The bonds were issued in early November and were allocated to 63 retail investors.
“Technology is part of TradeVille DNA, so conducting financing rounds for companies in this field is natural for us. After the success of the placement for HUNT23, whose listing we can see today, has already followed a second successful offer for the same company. We hope that more and more promising companies in our country will join this revolution in financing and will join us on the Stock Exchange”, stated Ovidiu Dumitrescu, TradeVille Deputy CEO.
iHunt Technology Import Export started its activity in 2015, as a direct importer of mobile phones and accessories from China, with two employees and a share capital of RON 200. The company developed rapidly, and in July 2019 it was listed on the AeRO market within BVB’s Multilateral Trading System. At the end of the first day of trading on AeRO, iHunt had a capitalization of RON 12.2mn and, currently, the company has a capitalization of RON 75.8mn.
The company is a finalist of the 2019 edition of the Made in Romania program: BVB League.
iHunt sells the products both through the online store ihunt.ro and through over 200 physical stores "iHunt-Partner".
In addition to offering products under its own brand, iHunt also sells products from the portfolio of other Chinese manufacturers. The company has acquired advantageous and solid partnerships with suppliers, strong players in the Chinese market. The share of iHunt mobile phones in the total volume of telephone sales increased at an accelerated pace each year, from 44% in 2018, to 85% in 2019 and over 95% in the first half of 2020.
If in its first year of existence, iHunt registered a turnover of RON 2.4mn, the company increased constantly, so that for the first nine months of 2020, the company recorded a turnover of RON 26.6mn (+ 62% compared to the similar period in 2019). At the end of the first nine months of 2020, iHunt recorded a profit of over RON 3.8mn, compared to losses of RON 102,000 in the similar period of 2019.
The founder of iHunt, Cezar Stroe, holds 74.28% of the company's shares, and his father, Corneliu Stroe, holds 5.15% of the shares. The difference of just over 20% of the shares is in the portfolios of other investors.
TradeVille is a brokerage company with over 26 years of experience on the Romanian capital market and offers retail clients easy and fast access to the Bucharest Stock Exchange and major international stock exchanges. In 2020, TradeVille carried out over 50% of corporate equity and bond placements with a 100% success rate for companies in various industries. As well in 2020, TradeVille received from the Bucharest Stock Exchange the most trophies at the stock market performance award ceremony: Broker of the Year on the retail segment, Award for Innovation in the brokerage industry and, respectively, Most active intermediary on the primary market of the AeRO market.