The online recruitment platform BestJobs debuted on Wednesday on the Bucharest Stock Exchange (BVB) with issuance of bonds worth over 3.3 million euros.
The bonds are traded on the Multilateral Trading System of the stock exchange under the stock symbol JOBS26E. The funds raised from capital market investors will support the company’s development by attracting team professionals, promoting and developing the platform, and the development in-house of technological solutions . The funds can also be used for investments in companies in the field of online services (fintech, marketplace).
The listing of the bonds comes after a private placement of bonds took place between May 6-17, 2021, through which the company issued a number of 6,742 corporate bonds denominated in euros, with a nominal value of 500 euros. The bonds have an annual interest rate of 5.8% and the maturity date is May 20, 2026. 106 investors subscribed during the investment, of which 14 qualified investors and 92 retail investors. The company attracted 3,371,000 euros from capital market investors. The private placement and listing of the bonds were done with the support of TradeVille.
The BestJobs platform has an experience 20 years in the field, and it was spun-off in 2010 as an independent company from Neogen SA. By 2023, the company aims to reach a number of 6 million resumes on the site after already registering a number of 4.6 million resumes in the first months of this year. In 2020, in the context of the pandemic, the number of job applications published on the BestJobs platform has increased by 29.3% compared to 2019 (5,877,566 applications in 2020 vs. 4,544,130 in 2019).
The company’s revenues are proportional the the promotion of jobs on the BestJobs platform. In 2020 the company reported a turnover of 21.3 million lei, a decreasing of 30.2% compared to 2019, and other operating income was 140,896 lei. The company’s net profit in 2020 was 2.1 million lei, down from 2019 when the company reported a net profit of 7.8 million lei. In the first quarter of 2021, the company recorded a turnover of 6.68 million lei and a net profit of 1.7 million lei. For the end of the current year, the company forecasts a turnover of 39.2 million lei and a net profit of 8.9 million lei. At the end of last year, the company had 33 employees, down from 2019 when it had 50 employees.
The main shareholder of BestJobs Recrutare is Neogen S.A. with 99.9988% of the shares. Neogen S.A. is in turn owned by Călin Fusu with 67% ownership.