Simtel Team has raised US$3.5 million through an equity private placement on BSE
Simtel Team (SMTL), a Romanian engineering and technology company, has raised US$3.5 million through a private placement of shares on the ATS Market of Bucharest Stock Exchange. The offer was closed on the first day, being oversubscribed three times, with the investors placing orders for a total value of US$10.4 million. Following the successful conclusion of the private placement, the anticipated capitalization of the company is approximately US$22 million.
Simtel Team is an eco-engineering company founded in 2010 by three graduates of the Faculty of Electronics and Telecommunications – Iulian Nedea, Sergiu Bazarciuc and Radu Vilău. The company operates in three business areas: renewable energy, telecommunications and automation, delivering projects both in Romania and abroad for each business line. The main services provided by Simtel are turnkey construction and maintenance for photovoltaic parks, turnkey services for the construction of mobile communications networks for telecommunications operators, and automation of industrial processes through automated production lines, electric drives and industrial robots.
Oaklins’ team in Romania, in its role as IPO advisor, assisted Simtel Team’s management team and shareholders all the way, from the start to the successful completion of the IPO. During this process, the team initiated and advised on many aspects, including, among others, securing cornerstone investors, deal structuring and the IPO pricing and sizing.
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Iulian Nedea
Founder and CEO, Simtel Team
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![Daniela Secara](/portrait.jpg?uid=5986&type=large)
![Serban Cristian Dumitrescu](/portrait.jpg?uid=7036&type=large)
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