Vertis Legal Advises Arobs and BRK on RON 74.2 million Private Placement

Vertis Legal Advises Arobs and BRK on RON 74.2 million Private Placement

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Vertis Legal has advised Arobs Transilvania Software on a RON 74.2 million private placement on the AeRO market of the Bucharest Stock Exchange. The firm also advised the BRK Financial Group on mediating the investment.

The private placement included 12% of Arobs' current share capital and was closed on the first day, ahead of schedule, while being almost three times oversubscribed. The shares were sold to both retail and institutional investors. Arobs announced it intends to list the shares on the AeRO alternative trading segment of the Bucharest Stock Exchange in the upcoming weeks.

According to Vertis Legal, this is the largest private placement in the history of the AeRO market.

Arobs Transilvania Software is a Romanian IT company founded in 1998 providing customized software solutions for the pharmaceutical, travel tech, IoT, fintech, enterprise solutions, logistics, and automotive industries. It operates out of seven offices in Romania and another seven abroad.

Established in 1994 and headquartered in Cluj-Napoca, the BRK Financial Group is a publicly-traded financial investment services company and one of the founding members of the Bucharest Stock Exchange.

"This investment attracted huge interest from both retail and professional investors," commented BRK General Manager Monica Ivan, "so it was concluded in advance, on the first day, which shows us once again the high appetite of investors towards Romanian entrepreneurial companies."

"We have ambitious plans to grow the business, and the capital obtained from the successful private placement ... will support us in this endeavor," said Arobs founder and CEO Voicu Oprean. "Further, we will focus on identifying the IT companies to be included in the Arobs Group through M&A transactions, as well as on growing our business nationally and internationally."

The Vertis Legal team was led by Managing Partner Alexandru Basarab and included Senior Associate Ronald Elek and Associate Simona Chiperi.