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

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DGAP-News: Allterco JSCo / Keyword (s): Miscellaneous

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

22.11.2021 / 10:01
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Allterco launches a secondary listing (Prime Standard) on the Frankfurt Stock Exchange and increases the attractiveness of the share

IoT and smart home solutions provider achieves secondary listing on the regulated market of the Frankfurt Stock Exchange / The share price has risen by more than 1,100% since the first listing in 2016 on the Bulgarian Stock Exchange (BSE ) / CEO of Allterco Europe, Wolfgang Kirsch and Chairman of the Advisory Board, Gregor Bieler, lead the European expansion

Munich, November 22, 2021 – Allterco JSCo (ticker A4L / ISIN: BG1100003166) (“Allterco”), a provider of IoT and smart home solutions, was successfully launched today on the Frankfurt Stock Exchange with a secondary listing in the Prime Standard. At 9:30 am, the Allterco JSCo share was trading at 16.20 euros, up more than 11% from the opening price of 14.50 euros. Based on the current price, Allterco’s market capitalization is 292 million euros.

The tech company has been listed on the Bulgarian Stock Exchange (ESB) regulated market since 2016. Since then, the share price has risen by more than 1,100%. According to the publicly announced financial forecasts, the company expects a turnover of 27.8 million euros for 2021 and 41.8 million euros for 2022.

Germany, the hub of European expansion
With its intelligent measuring sensors from the Shelly product line, the company is on the way to European expansion. Shelly is particularly popular in Germany. Allterco already generates a significant portion of its sales there. The decision to secondary listing on the Prime Standard of the Frankfurt Stock Exchange underlines the importance of Germany as a selling market for IoT solutions and for the smart home and forms the basis in the context of the growth strategy global.

To do this, the company has further expanded and professionalized its structures. In Wolfgang Kirsch – previously Chief Operating Officer at MediaMarktSaturn – Allterco has already surrounded itself with a confirmed expert in the consumer electronics sector. As CEO of the new company Allterco Europe GmbH, he will be responsible for the development of new markets as well as the Munich site. Gregor Bieler will assume the 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 leadership roles at Logitech, PayPal and Microsoft.

Dynamic growth of smart home and IoT market
Wolfgang Kirsch, CEO of Allterco Europe GmbH (pending registration in the commercial register): “Listing on the Frankfurt Stock Exchange is an important step for Allterco. Dual listing on the Prime Standard – the most transparent segment – gives us access to additional investor groups, increases the company’s visibility in the capital markets and improves the liquidity of Allterco shares. In this way, we are building a strong starting position to achieve our ambitious goals and continue on our strategic path to profitability and sustainable growth.With our products, we are addressing a dynamic growing market for smart home solutions and IoT and at the same time make an important contribution to the reduction of CO emissions2 emissions. Therefore, in the next step, we want to establish an overall 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 harnessing 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 closely geared to the needs of its own users. A unique community of fans and supporters has grown around the brand, with over 35,000 active members in support forums in Germany alone. Shelly products work with all popular platforms from manufacturers such as Google, Apple or Amazon.

“Our components are freely programmable. Nor do we force our users to use the cloud or purchase a specific control system. Instead, we make products as flexible and open as possible – that sets us apart from other vendors. smart homes, ”says 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 future 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 talented young developers who are dedicated to producing competitive and user-friendly products. The Group consists of 4 subsidiaries and has offices in Bulgaria, China and the United States and is about to open an office in Germany. Allterco products have already conquered more than 100 markets. Allterco JSCo has been listed on the Bulgarian Stock Exchange since December 2016 and on the Frankfurt Stock Exchange since November 2021 where its shares are traded under WKN A2DGX9, ISIN BG1100003166, ticker A4L.

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