‘We are listing education on the stock market!’ – Cosmin Mălureanu, CEO Ascendia S.A.
Ascendia creates digital learning products and develops tailor-made educational software, being one of the most creative competitors on the educational software market (eLearning) in Romania. Not only does Ascendia create products for the educational system, but it also develops digital training content for corporate employees.
For preschool and school-age children, the company made the EduTeca products – the EduTeca magazine and digital and printed textbooks. For the training of corporate experts, Ascendia develops both learning management system platforms and tailor-made educational modules, having in it’s portfolio many clients or partners from different economic fields – ING Bank, Orange, Raiffeisen Bank, BricoDepot, Groupama, Samsung Romania, Microsoft Romania, Allianz, AdPharma, etc.
The eLearning field, which consists of digital learning content for corporations and academia, on the one hand, and educational platforms, on the other, will reach $150 billion globally by 2020. Romania is among the top 4 countries with the greatest increase in eCourses usage.
In 2015, Ascendia’s turnover tripled, reaching €0.9 million, while the net profit came to 33%.
‘Ascendia is a company built on the passion for high-quality education and the faith that we can contribute to the improvement of the way in which preschoolers, school-aged children, and adults learn. We believe that we are ‘listing education on the stock market’ because we wish to focus our efforts on setting new bases for the learning process by implementing the use of technology and eLearning resources not only in the foreign countries, but also in the Romania. The potential of the global industry is great; estimates indicate two-digit annual growth rates. We have proved through our projects that we have the determination and ability to contribute to the ascension of this type of education, based on modern tools and technologies. We trust that our vision, confirmed by teachers, parents, and education experts, will also be shared by investors,’ stated Cosmin Mălureanu, CEO of Ascendia.
As part of the listing process, Ascendia brought to the shareholder’s structure the Romanian investment fund Certinvest Dinamic, which acquired 10% of the company’s shares, providing thus the support for the company’s future development.
The authorized advisor which performed the admission procedure for listing Ascendia’s shares on the stock market is SSIF Intercapital Invest. Ascendia’s stock symbol will be ‘ASC.’ Ascendia’s listing on the AeRO market will officially take place through an inaugural conference at the Bucharest Stock Exchange, on 7th July, 2016, at 09:30 am.
“I would like to congratulate Ascendia of having taken the decision to become a listed company, on what is supposedly the most promising capital market of South-Eastern Europe and in some regards one of the most attractive market venues for investors and entrepreneurs across Central and Eastern Europe. We are satisfied that we can be moving forward on the road towards modernity together with Ascendia and our other partners that have a vision, determination and courage – the values that will bring new companies to the stock market.” stated Ludwik Sobolewski, CEO of the Bucharest Stock Exchange.
“Through Ascendia’s listing on the AeRO market, we want to consolidate the number of private companies that get listed on the stock market and use the capital market as a source for financing. Through this project, we intend to introduce investors to an innovative company that belongs to a very popular field on the stock markets and has a great growth potential. This listing continues Intercapital Invest’s strategy to perpetually diversify the financial tools presented to the investors. We want this event to become an important reference in the future listings of other innovative Romanian IT companies,’ stated Răzvan Pașol, CEO of SSIF Intercapital Invest.
Ascendia operates in the field of eLearning since 2007, being one of the consecrated software and eContent developers for the educational sphere in the Romanian public and private sector. Having developed over 8,000 interactive eLearning modules for multinational companies and ministers of education in nine countries, both directly and through third parties integrators, Ascendia is an agile player dedicated to digital education. Some of Ascendia’s successful projects are the EduTeca Digital Software Collection for preschoolers, digital textbooks for school-aged children, and a corporate Learning Management System. Since 2014, Ascendia owns the eLearning.ro portal, which is the most important source of information regarding the field of eLearning in Romania, having over 1,000 articles for those who are interested in this field. Additional information about Ascendia can be found on www.ascendia.ro.
About the Bucharest Stock Exchange
The Bucharest Stock Exchange administers stock markets, bonds as well as other financial instruments, through regulated platforms or alternative systems and provides a wide range of services to those who partake in the financial markets. The Bucharest Stock Exchange is a company that has been listed on its own market since 2010. For additional information, please visit www.bvb.ro.
About Intercapital Invest
Intercapital Invest is one of the most important independent brokerages authorized by the Bucharest Stock Exchange. Founded in 1995, the company either led or was part of some of the most important transactions, offerings and listings in the Romanian capital market, including the listing of the Bucharest Stock Exchange on its own transaction market, the World Bank’s public offerings of bounds in LEI, the initial offering of S.N.T.G.N. Transgaz, the admission of New Europe Property Investments’ stocks at the Bucharest Stock Exchange, the secondary offering of Transelectrica and so forth. Further detail about this company can be found on www.intercapital.ro.