Wiser Technology plans to raise €12.6 million through an IPO, following approval from the Financial Supervision Commission for Bianor Holding's Capital Increase Prospectus via the Bulgarian Stock Exchange. The company plans to issue 4,096,711 new shares at €3.07 per share, bringing the total number of company shares to 16,386,844. Wiser Technology told AIN the details.

Sofia International Securities has been selected as the lead organiser for this offering.

About Wiser Technology

  • Wiser Technology is the second-largest IT company listed on the Bulgarian Stock Exchange. The company was established as a result of the merger of Bianor Holding with Prime Holding and Digital Lights. 

  • Headquartered in Sofia, Bulgaria, the company offers advanced mission-critical software solutions for leading organizations in the automotive, aerospace, defense, telecommunications, and financial service industries. 

  • With over 400 software engineers and computer scientists, the company operates multiple delivery centers in Bulgaria, Greece, and Serbia, and operates an NY-based US consulting office.

  • Wiser raised €14.3M in an initial public offering since 2023, enabling six acquisitions and boosting pro forma consolidated revenues to €13.8M in the first half of 2023, a nine-fold increase from the previous year.

“We are pleased to see considerable interest from investors, with close to €11M already committed,” mentioned osta 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 event on September 11th, 2024, at the Hyatt Regency Sofia Hotel. The meeting will discuss the company's strategic plans and capital increase goals. Participants can communicate right away with the supervisory team. 

All interested parties may register for the meeting, which will be held in English. Furthermore, it will be broadcast live on the company’s YouTube channel.

The initial public offering indicative schedule for a Bulgarian company begins on September 4, 2024, with the prospectus publication date. The announcement begins on September 17, 2023, and rights transfer and underwriting begin. Trading in rights under Bulgarian Stock Exchange rules begins on October 4, 2024, with administrative auctions in October 14, 2024, and underwriting of shares in October 18, 2024.