DGAP-News: Allterco JSCo / Key word (s): Miscellaneous

Allterco starts secondary listing (Prime Standard) on the Frankfurt Stock Exchange and increases the attractiveness of the share

22.11.2021 / 10:01
The issuer is responsible for the content of this announcement.

Allterco starts secondary listing (Prime Standard) on the Frankfurt Stock Exchange and increases the attractiveness of the share

The provider of IoT and smart home solutions carries out a second listing in the regulated market of the Frankfurt Stock Exchange / Price has risen by more than 1,100 percent since the first listing in 2016 on the Bulgarian Stock Exchange (BSE) / Allterco Europe CEO Wolfgang Kirsch and Advisory Board Chairman Gregor Bieler drive Europe-wide expansion Ahead

Munich, November 22, 2021 – Allterco JSCo (ticker A4L / ISIN: BG1100003166) (“Allterco”), a provider of IoT and smart home solutions, is now successfully listed on the Frankfurt Stock Exchange with a secondary listing under the WKN: A2DGX9 / ISIN: BG1100003166 started in the Prime Standard. As of 9.30 a.m., the Allterco JSCo share was quoted at EUR 16.20, an increase of more than 11 percent compared to the opening price of EUR 14.50. Allterco’s market capitalization is around 292 million euros based on the current price.

The tech company has been listed on the regulated market of the Bulgarian Stock Exchange (BSE) since 2016. Since then the share price has risen by more than 1,100 percent. According to the published financial forecast, the company expects sales of 27.8 million euros for 2021 and 41.8 million euros for 2022.

Germany is the hub of European expansion
With its smart measurement sensors from the Shelly product line, the company is on course for expansion across Europe. Shelly is particularly popular in Germany. Allterco already generates a considerable part of its sales here. The decision to have a second listing in the Prime Standard of the Frankfurt Stock Exchange underlines the importance of Germany as a sales market for IoT and Smart Home solutions and forms the basis in the context of the global growth strategy.

See also  Water board tax increases due to climate change: 'Going faster than expected' - AD.nl

To this end, the company has further expanded and professionalized its structures. In Wolfgang Kirsch – previously Chief Operating Officer at MediaMarktSaturn – Allterco has already been able to gain a proven specialist in the field of consumer electronics. As CEO of the newly founded Allterco Europe GmbH, he will be responsible for opening up new markets and the Munich location. Gregor Bieler assumes responsibility as chairman of the company’s advisory board. As CEO Europe, Bieler heads Apravi and has also gained valuable experience in leading positions at Logitech, PayPal and Microsoft.

Dynamic growth in the smart home and IoT market
Wolfgang Kirsch, CEO of Allterco Europe GmbH, which is entered in the commercial register: “The listing on the Frankfurt Stock Exchange is an important milestone for Allterco. The dual listing in the Prime Standard – the segment with the highest transparency – gives us access to further investor circles , increase the visibility of the company on the capital markets and improve the liquidity of the Allterco share. In this way, we are developing a strong starting position to achieve our ambitious goals and to continue on our strategy path aimed at profitable and sustainable growth. With our products we address a dynamically growing market for smart home and IoT solutions and at the same time make an important contribution to reducing CO2Emissions. Therefore, in the next step, we want to build a global marketing and sales structure that is in no way inferior to the high quality of our technical solutions. We see this as the prerequisite for exploiting our full market potential and establishing Shelly as one of the leading smart home brands. ”

Shelly is already one of the fastest growing smart home brands. The recipe for success is a product strategy that is closely geared to the needs of your own users. A unique community of fans and supporters has emerged around the brand, with more than 35,000 members in Germany alone. Shelly products work with all common platforms from manufacturers such as Google, Apple or Amazon.

See also  Controversial software - Facebook deletes 1 billion faces from its database

“Our components are freely programmable. We do not force our users into the cloud or to purchase a specific control system. Instead, we develop products that are as flexible and system-open as possible – that sets us apart from other smart home providers”, explains Dimitar Dimitrov, Group CEO and Head of Development at Allterco. “Our product development is also very community-driven. This means that we collect targeted feedback and suggestions from our supporters and fans on how we can expand our range or improve our products. We are closer to actual user needs than many of our competitors. We pursue the credo that our products should serve people instead of adding even more complexity to everyday life. “

More information at allterco.com

About Allterco
Allterco JSCo is a technology holding company that stands for innovation through the development, manufacture and sale of high-quality IoT products. The end users and their needs are always at the heart of development. Allterco was founded in Bulgaria and works with a team of young, talented developers who are dedicated to making products that are competitive and easy to use. The group consists of 4 subsidiaries and has branches in Bulgaria, China and the USA and will soon open a branch in Germany. Allterco’s products have already conquered over 100 markets. Allterco has been listed on the Bulgarian Stock Exchange since December 2016. The company has been listed on the Frankfurt Stock Exchange since November 2021 under the WKN A2DGX9, the ISIN BG1100003166 and the ticker A4L.

Investor Relations contact
CROSS ALLIANCE communication GmbH
Sven Pauly
Telephone +49 89 125 09 0331
Email: [email protected]

See also  News for the morning of September 30th By Investing.com

Press contact
Hotwire Public Relations Germany GmbH
Michaela March
+49 89 25 552 55 61
[email protected]

11/22/2021 Publication of a Corporate News / Financial News, transmitted by DGAP – a service of EQS Group AG.
The issuer is responsible for the content of this announcement.

DGAP Distribution Services include regulatory reporting, corporate / financial news, and press releases.
Media archive at http://www.dgap.de


Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.