Wiser Technology to Raise €12.6M via IPO

The Financial Supervision Commission Approves Bianor Holding’s Prospectus for Capital Increase via the Bulgarian Stock Exchange

Sofia, Bulgaria, September 5ht, 2024 – Bianor Holding AD (BSE: BNR), operating under the brand Wiser Technology, received approval from the Bulgarian Financial Supervision Commission (FSC) to proceed with an initial public offering (IPO) of shares on the Bulgarian Stock Exchange (BSE). This approval marks the commencement of the capital increase process. An indicative schedule is available at the end of this announcement, and the final schedule will be released upon approval by the BSE.

Wiser Technology plans to issue up to 4,096,711 new shares at an issue price of €3.07 per share. If fully subscribed, this capital increase will bring in €12,6M and increase the total number of company shares to 16,386,844.

Sofia International Securities has been appointed as the lead arranger for this offering.

Since the beginning of 2023, Wiser has raised over €14.3M through an initial public offering on the BSE. The capital increase has facilitated six acquisitions, boosting the company’s pro forma consolidated revenues to €13.8M for the first half of this year – an increase of more than nine times compared to the same period last year.

“We are pleased to see considerable interest from investors, with close to €11M already committed,” said Kosta Jordanov, CEO of Wiser. “The proceeds from this capital increase will be used for acquisitions in Western Europe and to cover bridge financing used for the acquisition of Digital Lights earlier this year,” Jordanov added.

Wiser’s management invites the investment community to an open meeting on September 11th, 2024, at 4 p.m. at the Hyatt Regency Sofia Hotel. The meeting will provide further details on the company’s strategic plans, as well as the objectives and parameters of the upcoming capital increase. Participants will have an opportunity to engage directly with the management team. The meeting will be held in English and is open to all interested parties upon registration [here]. Additionally, it will be streamed live on the company’s YouTube channel.

Capital Increase Actual Schedule >>>

Wiser’s Revenues Nearly Tripled in H1 2024

Pro-forma Consolidated Revenues, Including 2024 Acquisitions, Reach €13.8M

Sofia, Bulgaria, August 29, 2024 – Bianor Holding AD (BSE: BNR), operating under the Wiser Technology brand, announces a 192% year-over-year increase in consolidated revenues for the first half of 2024. Revenues reached €4.3M, up from €1.5M during the same period of 2023.

On a pro-forma consolidated basis, which includes the revenues from the companies acquired earlier this year, Wiser’s revenues surged to €13.8M for the first half of 2024. This is an over nine times increase compared to the same period of 2023. The newly acquired companies are consolidated in Wiser’s profit and loss reports starting with the third quarter of the year, and their effect will be reflected starting with the next quarterly reports.

Wiser reported a negative financial result before interest, taxes, and depreciation of €0.2M and a net loss of €0.3M for the first half of 2024.

“We anticipate continued rapid year-over-year revenue growth in the second half of the year and positive financial results for the full year, despite the significant focus and investments this year to support our aggressive expansion,” said Kosta Jordanov, CEO of Wiser. “In the first half of the year, we had over €0.2M in one-off M&A-related costs. Most of those are now behind us, and we refocus our investments towards the integration of all the companies in the group under a single organizational structure and brand and in the international expansion of our sales channels,” added Jordanov.

Wiser is planning a capital increase of up to €12.6M through the Bulgarian Stock Exchange in the second half of the year. The company invites all members of the investment community to an open meeting on September 11th, 2024, at 4 p.m. at the Hyatt Regency Sofia Hotel. During this meeting, Wiser’s management will provide further comments on the company’s financial performance and more information about the company’s growth plans, as well as the objectives and parameters of the upcoming capital increase.

About Wiser Technology

wisertech.com

Wiser Technology (BSE: BNR) develops advanced mission-critical software solutions for the world’s leading companies in the automotive, aerospace & defense, telecommunications, and financial industries. Thanks to the accumulated knowledge and experience in these areas over the course of hundreds of projects, the company delivers high value to its customers and helps them create innovative projects and maintain sustainable competitive advantage.

The company’s team of over 400 top computer specialists, engineers, scientists, and consultants provides IT services from its delivery centers in Bulgaria, Serbia, and Greece. The company adheres to the highest quality and security standards, following processes certified to ISO 9001/20001/27001, NATO AQAP 2110/2210, TISAX, and others.