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Shelly Group SE
Regulatory Filings • Nov 22, 2021
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Corporate | 22 November 2021 10:01
Allterco launches secondary listing (Prime Standard) on the Frankfurt Stock Exchange and increases attractiveness of the share
DGAP-News: Allterco JSCo / Key word(s): Miscellaneous
22.11.2021 / 10:01
The issuer is solely responsible for the content of this announcement.
Allterco launches secondary listing (Prime Standard) on the Frankfurt Stock Exchange and increases attractiveness of the share
The provider of IoT and smart home solutions completes a secondary listing on the Regulated Market of the Frankfurt Stock Exchange / Share price up more than 1,100 per cent since 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
Munich, 22 November 2021 – Allterco JSCo (ticker A4L / ISIN: BG1100003166) (“Allterco”), a provider of IoT and smart home solutions, successfully launched today on the Frankfurt Stock Exchange with a secondary listing in the Prime Standard. As of 09.30 o’clock, the Allterco JSCo share was trading at 16.20 euros, up more than 11 percent from the opening price of 14.50 euros. Based on the current price, Allterco’s market capitalisation is 292 million euros.
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 per cent. According to publicly announced financial forecasts, the company expects revenues 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 of the Shelly product line, the company is on a Europe-wide expansion course. Shelly is particularly popular in Germany. Allterco already generates significant part of its sales here. The decision for a secondary 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.
To this end, the company has further expanded and professionalised its structures. In Wolfgang Kirsch – previously Chief Operating Officer at MediaMarktSaturn – Allterco has already been able to gain a proven expert from the consumer electronics sector. As CEO of the newly to be founded Allterco Europe GmbH, he will be responsible for the development of new markets as well as for the Munich site. Gregor Bieler will assume responsibility as Chairman of the company’s Advisory Board. As CEO Europe, Bieler is in charge of Aparavi’s fortunes and has also gained valuable experience in executive positions at Logitech, PayPal and Microsoft.
Dynamic growth in the smart home and IoT market
Wolfgang Kirsch, CEO of Allterco Europe GmbH (in process of being 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 additional investor groups, increases the company’s visibility on the capital markets and improves the liquidity of the Allterco share. In this way, we are building a strong starting position to achieve our ambitious goals and to continue on our strategic path towards 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 CO 2 emissions. Therefore, in the next step, we want to establish 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 European smart home brands for home automation. The recipe for success is a product strategy that is closely oriented to the needs of its own users. A unique community of fans and supporters has grown up around the brand, with more than 35,000 active members in the support forums in Germany alone. Shelly products work with all common platforms from manufacturers such as Google, Apple or Amazon.
“Our components are freely programmable. We also do not force our users into the cloud or to purchase a specific control system. Instead, we develop products that are as flexible and open-system as possible – this sets us apart from other smart home providers,” explains Dimitar Dimitrov, Group CEO and Head of Development at Allterco. “We follow the credo that our products should serve people instead of adding even more complexity to everyday life. With the secondary listing on the Frankfurt Stock Exchange, we now want to underline our ambitions in Europe and create the best conditions for our further expansion. Due to our local strength and the already existing support in the German market, we have consciously decided to go to the Frankfurt Stock Exchange.”
More information at allterco.com
About Allterco
Allterco JSCo is a technology holding company that stands for innovation through the development, manufacture, and distribution of high-quality IoT products. 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 producing competitive and user-friendly products. The Group consists of 4 subsidiary companies and has offices in Bulgaria, China and USA and is about to open an office in Germany. Allterco’s products have already conquered over 100 markets. Allterco JSCo has been listed on the Bulgarian Stock Exchange since December 2016 and on the Frankfurt Stock Exchange as of November 2021 where its shares are traded under WKN A2DGX9, ISIN BG1100003166, ticker A4L.
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22.11.2021 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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| Language: | English |
| Company: | Allterco JSCo |
| 103 Cherny Vrah Bldv | |
| 1407 Sofia | |
| Germany | |
| E-mail: | [email protected] |
| Internet: | www.allterco.com |
| ISIN: | BG1100003166 |
| WKN: | A2DGX9 |
| Listed: | Regulated Market in Frankfurt (Prime Standard) |
| EQS News ID: | 1250941 |
Notierung vorgesehen – Designated to be listed
| End of News | DGAP News Service |