Wiser Technology Receives Bulgarian Stock Exchange Award for Largest Capital Raise on the Main Market in 2024

The company secured €22.6M, emerged among the top-traded stocks, and played an active role in the evolution of the local capital market.

In Brief:

• €22.6M capital raised in 2024, and #3 most traded stock on the Bulgarian Stock Exchange (BSE)

• 281% increase in the number of shareholders and 27% share price rise

• €43M market cap with 187% year-over-year capital appreciation (CAP)

Sofia, Bulgaria, January 15th, 2025 – Wiser Technology (BSE: WISR*) has been recognized at the 24th annual Bulgarian Stock Exchange awards with the distinction of “Issuer that raised the highest amount of capital on the Main Market of BSE”. The honor was presented by Ms. Radoslava Maslarska, Chairperson of the Bulgarian Association of Licensed Investment Intermediaries (BALII), and accepted by Mr. Kosta Jordanov, CEO of Wiser Technology.

Radoslava Maslarska, Chairwoman of the Bulgarian Association of Licensed Investment Intermediaries (BALII), Kosta Jordanov, CEO of Wiser Technology

“I want to thank our investors for their trust and confidence in Wiser Technology. Their support has been instrumental in helping us achieve these milestones and positioning us to drive our international expansion,” said Kosta Jordanov, CEO of Wiser Technology. “We greatly appreciate the Bulgarian Stock Exchange for playing a key role in our journey, providing the platform that connected us with diverse investors and secured the funding needed to realize our ambitious plans,” Jordanov added.

Over the course of 2024, Wiser Technology raised €22.6M, fueling a 281% increase in its shareholder base and driving its share price up by 27%. By year-end, the company had become the third most traded stock on the BSE, while its free float reached 48%. The company reached €43M market cap, reflecting a 187% year-over-year capital appreciation – solidifying its foundation for sustainable, long-term growth.

During the year, Wiser Technology also joined BGBX40, BGTR30, and the Premium Segment of the Bulgarian Stock Exchange – becoming just the tenth company in this exclusive tier. These achievements underscore how a locally founded IT services company can access substantial funding from the domestic capital market, expand its shareholder base, and compete internationally.

Looking ahead to 2025, Wiser Technology is in a strong position to advance its international expansion, finalize its post-M&A integration efforts, and invest in new growth initiatives reinforcing its market-leading position and delivering lasting value for shareholders.

*As of 06 January 2025, the BSE code (mnemonic) for the issue of shares was modified from BNR to WISR.

Wiser Technology’s Revenues Quadrupled in Q3 2024 YoY

Consolidated Revenues for the Three Months Reach €7.4M at 28% Gross Margin and 6% EBITDA Margin

Sofia, Bulgaria, November 29, 2024 – he consolidated revenues for the third quarter (July-September) of 2024 of Bianor Holding AD (BSE: BNR), operating under the brand Wiser Technology, grow 310% year-over-year to €7.4M from €1.8M during the same period of 2023. Wiser Technology reports a financial result before interest, taxes, and depreciation of close to €0.5M for the third quarter of 2024, or an EBITDA margin of 6%.

“In Q3, we began the integration of all Wiser companies under a unified organization and brand and made very significant progress while also finalizing the M&A transaction with Badin Soft,” said Kosta Jordanov, CEO of Wiser Technology. “Fuelled by M&A activity, our revenues continue to grow rapidly, and our client base continues to diversify. At 28%, our gross margins are at the level of global IT service leaders’ margins, and despite the integration overhead, in Q3, we achieved some partial EBITDA margin recovery as we shift focus from M&A back to operations. We expect to see more consistent EBITDA margin improvement in the second half of next year when we approach the final phase of the integration project. Meanwhile, we continue to make aggressive investments in organic growth, examples of which are the recent establishment of an office in Frankfurt and the appointment of Johan Bihl, former Strategic Sales Director at DXC, Wipro, and Capgemini, to head our operations in the Nordics,” added Jordanov.

Wiser Technology’s shares trade on the Premium segment of the Bulgarian Stock Exchange under the ticker BNR. The company recently completed a €12.3M capital increase from the public markets. Subject to approval by the General Assembly, the management plans a capital increase of 160,000 shares to distribute among all team members, fostering a culture of ownership and collaboration, key prerequisites for the company’s continued growth and success.

Wiser Technology’s Q3 Earnings Call will take place at 10.30 a.m. EET on December 5th, 2024. The meeting will be online and open to all analysts, investors, media, and the public upon registration.

Wiser Technology Plans Capital Increase to Award Shares to Employees

General Assembly Meeting Announced to Vote on Name Change, Auditor Selection, and Changes to Board and Auditing Committee

Sofia, Bulgaria, November 7th, 2024 – Bianor Holding (BSE: BNR) has scheduled a General Assembly meeting for December 12th, 2024, to vote on key decisions, including renaming the company to Wiser Technology, updates to the Board of Directors and the Auditing Committee, the appointment of Baker Tilly as the authorized auditor, and a capital increase of 160,000 shares to distribute among all employees.

“Earlier this year, the GA approved an Employee Stock Option Program as a performance-based reward program. Now, in addition, the board is recommending to the GA a one-time capital increase to provide every employee with an opportunity to own stock in the company,” said Ivan Dimitrov, Chief People Officer of Wiser Technology. “This move reflects our commitment to fully aligning our team with the company’s vision, sharing the company’s success with the people that drive it, and fostering a culture of ownership and collaboration to support Wiser Technology’s further growth,” added Dimitrov.

Selecting Baker Tilly, a globally recognized top-ten auditor, underscores Wiser Technology’s commitment to expanding its appeal to international investors and its dual-listing ambitions.

The General Assembly will also vote on the addition of two new members to the Auditing Committee: Kliment Nachkov, CFO of Wiser Technology, and Veronika Revalska, a registered auditor listed in the register under Article 20 of the Independent Financial Audit Act (ZNFOSU). Nachkov brings a wealth of experience from the U.S. banking sector and corporate finance roles at Prime Holding and Entrea Capital, Bulgaria’s top independent M&A advisory firm. Revalska’s auditing expertise includes overseeing audits for major clients, including Bulgarian Energy Holding, National Electric Company, Printing Works of BNB, and Allianz Bulgaria, during her time as lead auditor at HLB Bulgaria.

Another major decision planned for the upcoming GA is appointing two new members of the Board of Directors. Dimitar Dimitrov, CTO, and Georgi Sokolov, COO of Wiser Technology, are nominated to join the BoD. Dimitar Dimitrov is an IT entrepreneur and a professor at the Faculty of Mathematics and Informatics of Sofia University. He is a former VP “Development” at SAP and a member of the board of the Bulgarian Association of Software Companies. Georgi Sokolov is a software engineer and entrepreneur. He co-founded several Bulgarian software companies and founded the Bulgarian office of the multinational brand Reward Gateway, serving clients like American Express, Groupon, Yahoo!, IBM, and McDonald’s.

Earlier this month, Wiser Technology announced its seventh M&A transaction in the past 18 months, acquiring 100% of the Serbian software development company Badin Soft. Wiser Technology (BSE: BNR) trades on the Premium segment of the Bulgarian Stock Exchange and recently completed a €12.3M capital increase from the public markets to support the company’s further expansion.

The Serbian Software Development Company Badin Soft Joins Wiser Technology

This is Wiser Technology’s Seventh M&A Transaction in the Past 18 Months

Sofia, Bulgaria, October 10, 2024 г. – Bianor Holding AD (BSE: BNR), operating under the brand Wiser Technology, acquired 100% of the Serbian software development company Badin Soft. As a result of the transaction, the original founders of Badin Soft and other key team members will become shareholders in Wiser Technology.

Badin Soft is headquartered in Niš, Serbia, and employs over 100 highly skilled software engineers and consultants. The company serves clients in the Financial Services and Communications sectors, including prominent organizations such as BlackRock, Raiffeisen Bank, Telecom Serbia, and Inspira Group.

This transaction further enhances Wiser Technology’s expertise in delivering high-quality solutions to the financial services and telecommunications sectors, including to top-tier international clients.

With this transaction, Wiser Technology’s 2024 pro-forma consolidated revenues are expected to exceed €30M. The company continues its path to becoming a leading software services provider from Central and Eastern Europe. Wiser Technology is pursuing a growth strategy to diversify its delivery capabilities in the region while also gaining direct access to enterprise clients in key target markets, including the U.S., U.K., and DACH.

“I’m thrilled to welcome our colleagues from Badin to Wiser Technology. They are a remarkable team of experienced professionals, and I look forward to working with them in Wiser. Their comprehensive expertise in financial services and communications will strengthen Wiser Technology’s position in those key verticals and enable us to deliver even more value to our clients,” said Kosta Jordanov, CEO of Wiser Technology. ”I would like to extend my gratitude to the Badin team for their shared vision of Wiser Technology’s future and to our key shareholder, BlackPeak Capital, for their support throughout the entire transaction,” added Jordanov.

“This acquisition is a testament to the dedication and expertise of the entire Badin Soft team. Becoming part of Wiser Technology enables us to broaden our capabilities, enter new markets, and continue providing exceptional solutions to our clients,” said Božidar Ignjatović, CEO of Badin Soft. “We share a common vision with Wiser Technology, and together, we will push the boundaries of innovation in the software development industry. We’re excited about the future and look forward to what we can achieve as part of the Wiser family,” added Ignjatović.

“We are enthusiastic to join forces with Wiser Technology. This partnership marks a significant milestone for Badin Soft, and together, we will unlock new growth opportunities,” said Dušan Cvetković, CTO of Badin Soft. “Our team’s in-depth experience and commitment to excellence align perfectly well with Wiser Technology’s vision, and we look forward to contributing to Wiser’s expansion. By joining Wiser Technology, we’re confident that we’ll further enhance the value we bring to our clients and the industries we serve,” said Cvetković.

Wiser Technology’s mission is to empower visionary companies to drive positive change through technology. Wiser Technology’s clients and partners include Airbus, Leonardo, Indra, IBM, IAV, UniCredit, ProCredit, EMAAR, Nokia, DirecTV, Bosch, and Legrand. Wiser Technology partners with the world’s leading technology companies, including IBM, Amazon, Google, Microsoft, SAP, McKinsey Digital, and E&Y Digital.

Earlier this month, Wiser Technology (BSE: BNR) announced moving to the Premium segment of the Bulgarian Stock Exchange and in the process of finalizing a €12.3M capital increase from the public markets to support the company’s further expansion.

About Wiser Technology 
Wiser Technology (BSE: BNR) designs, builds and operates advanced mission-critical software solutions for the world’s leading organizations. The company delivers technology innovation, extensive domain expertise, and engineering excellence to its customers in the automotive, aerospace & defense, telecommunications, and financial service industries.

Wiser Technology delivers exceptional services from its multiple delivery centers in Bulgaria, Serbia, and Greece, with a team of over 600 leading software engineers and computer scientists. It employs ISO 9001/20001/27001, NATO AQAP 2110/2210, and TISAX-certified processes. The company is headquartered in Sofia, Bulgaria, listed at BSE, and operates an NY-based US consulting office.

About Badin Soft 
Badin Soft is an IT company based in Niš, Serbia, specializing in software development and offering services globally. Badin’s expertise spans various sectors, including banking, finance, loyalty programs, telecommunications, and multimedia systems. By utilizing cutting-edge technologies, Badin fosters a collaborative environment to create value for both its developers and clients.

Badin’s motto, “It’s all about people,” highlights that its greatest asset is its talented team. With more than 100 successful projects under its belt, Badin is dedicated to cultivating long-term partnerships and delivering high-quality software solutions tailored to meet client needs.

About BlackPeak Capital 
BlackPeak Capital was established in 2014 and targets growth equity investments of €5-15 million in fast-growing SMEs in Romania, Bulgaria, Slovenia, Croatia, and Serbia. Its second fund, BlackPeak Southeast Europe Growth Equity Fund, focuses on partnering with the region’s outstanding entrepreneurs who aim to build world-class companies through continued innovation, organic growth, and add-on acquisitions. BlackPeak Capital remains committed to making a significant positive economic, social, and environmental impact.

BlackPeak Southeast Europe Growth Equity Fund is backed by the European Investment Fund under the COSME and JEREMIE programs, the European Union under the Equity Facility for Growth established under Regulation (EU) No 1287/2013 of the European Parliament, Invest BG, the EBRD, the IFC, and other European private institutional investors.

Notification Based on Art. 89l, Paragraph 1 of the Public Offering of Securities Act (POSA), Bianor Holding AD Extends the Subscription Period for the Public Offering

Sofia, Bulgaria, October 4, 2024 – Notification based on Art. 89l, Paragraph 1 of the Public Offering of Securities Act (POSA), Bianor Holding AD extends the subscription period for the public offering of 4,096,711 ordinary, registered, dematerialized shares with voting rights, with a nominal value of 1 BGN and an issue price of 6 BGN, from October 10, 2024, to October 14, 2024, inclusive, which will be considered the last day of the subscription period.

Wiser Technology Enters the Stock Market Index of the Thirty Largest Bulgarian Public Companies

Earlier this Year, the Company Entered the BSE Index of the Most Traded Companies and Moved to the Premium Segment

Sofia, Bulgaria, September 25, 2024 – With the September 2024 rebalancing of the stock market indices, Bianor Holding AD (BSE: BNR), operating under the brand Wiser Technology, enters the BGTR30 index of the Bulgarian Stock Exchange (BSE), featuring the thirty largest companies by market capitalization.

In March this year, Wiser entered the index of the forty most traded companies on the Bulgarian Stock Exchange, BGBX40, and has been consistently one of the most traded stocks since. On September 16th, Bianor became the tenth company listed on the Premium segment of the BSE.

Over the past twelve months, the company revenue grew 192%, the market capitalization 209%, and the share price 86% to €3.07 per share. Wiser Technology is currently raising up to €12.5M through a new capital increase via the Bulgarian Stock Exchange to continue its expansion.