Page 23 - bne_newspaper_June_21_2019

bne Tech
June 21, 2019 www.intellinews.com I Page 23
Romanian smartphone producer iHunt announces IPO plans
iHunt, a Romanian developer of smartphones and other devices, has announced it will hold a 10%- 25% IPO on the Bucharest Stock Exchange by the end of the month.
New shares accounting for 10% of the company’s capital will be put up for sale, but more shares, up to 25% of the capital, might be issued depending on the demand. The company’s shares will be traded on the special AeRo section, where the listing requirements are looser than on the regulated market.
The company will use the money attracted to develop its electronic product range under the iHunt brand.
Its business model is based on the import of smart- phones and other electronic devices produced in China and sold on the local market. The company plans to enter foreign markets as well, this year.
iHunt Technology Import Export Ploiesti was set up in 2015 and sells its products mainly online. The company manages the online store www.ihunt.ro. The main shareholder of the company is Romanian entrepreneur Cezar Catalin Stroe (99.5%).
The company’s revenues were around RON24mn million (€5.4mn) over the past two years, while the profit decreased to just RON0.5mn in 2018, when the company invested in expansion on for- eign markets planned for this year.
Russian retailer X5 to launch online pharmaceutical marketplace
Russia's leading retailer X5 Group and
Santens Service Group will set up an online pharmaceutical marketplace on the basis of the Perekrestok.ru online store, the companies announced.
The online store apteka.perekrestok.ru will allow customers to collect orders at about 1,400 newly- opened pharmacy pick-up points in X5’s stores. X5 already has arrangements to open 1,400 pharmacy pick-up points. In the partnership, Santens will take care of the supply chain.
"The project’s logistics will be fully provided by Santens, so X5 does not have to invest in supply chain logistics, while from the other hand in future the project may help in raising traffic in
the stores by pick-up points network," BCS Global Markets commented on June 20, seeing the news as neutral for X5 shares.
BCS GM has a Buy recommendation on X5 with a target price of $37 implying an upside of 15%.
Last month X5 continued to expand its online