– When we launched the rights issue at the beginning of the year the stock market a little shaky. In retrospect, one might say that it would have been good if we have a bit more, but we are happy anyway, says CEO Babak Esfahani to the news agency Direkt.
The maximum issue amount was about 13 million. Total bids came in close to 200 million spread over approximately 5,600 accounts, representing a subscription rate of nearly 1,500 percent, the company said in mid-March.
– We were very surprised by the interest in the listing process. We knew that IoT (Internet of Things) was hot, but probably we were a bit taken by surprise, says Babak Esfahani.
Plejd, which was formed in 2009, has a background in the development of a complete “control system for the entire smart home “, which includes the control of such lighting, consumer electronics, air conditioning and window blinds.
– There is a high end system for the luxury market. We have started to sell it to superyachts in cooperation with Dutch VBH. Now we are working to develop a system for the broader consumer market, says Plejdchefen.
Yacht Operations will remain, and the company expects it to be cash flow positive in 2016.
consumer system based on Bluetooth technology, according to the company’s advertising easy to install and can be controlled with a mobile phone. The first products manufactured by Scanfil include dimmers and controllers and is expected to reach the market during the second quarter. Gradually, over the year, more products are launched.
According to the issue prospectus, the bank shall last for one year, but exactly how long is difficult to determine in the current situation, says Babak Esfahani.
– It depends on the investments we choose to do. The strategy is to produce the first series and take a position on the Swedish market. Then we will see in the international market, he said.
Investments will this year be made both in research and development, and to build a sales organization.
– We go from be a technology company founded by developers, for a company with marketing, sales and logistics.
the next step Plejd is to try to negotiate contracts with the major electrical wholesalers in Sweden, where advanced negotiations underway.
– Exactly when the bet started marketing point remains to be seen, it depends on when and how agreements with wholesalers, says Babak Esfahani.
the company reported full-year 2015 revenues of 3.1 million million and a net profit o on 0.2 million.
Plejd traded at 14 o’clock on Monday to 11:70 crowns on AktieTorget, an increase of 84 percent compared with the share issue subscription price of SEK 6:35 per share and equivalent to market capitalization of SEK 65 million. As most shares changed owners at 14:40 crowns.
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