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New listing of SOFTWARE MANSION S.A. on NewConnect
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SOFTWARE MANSION S.A. was newly listed on NewConnect on 20 October 2023.
SOFTWARE MANSION S.A. is the 368th company listed on NewConnect and the 11th new listing on NewConnect in 2023.
Key information
|
company name |
SOFTWARE MANSION S.A. |
|
ticker/short name |
SWMANSION/SWM |
|
website |
|
|
seat |
Kraków |
|
core business |
SOFTWARE MANSION S.A. specialises in the development of developer tools and open source software |
|
new listings on NC in 2023 |
11. |
|
companies listed on NC |
358 |
|
business sector |
Software |
|
companies in the sector |
24 |
|
offering/sale* |
Public offering for the sale of existing series A shares: 123,533 Other sale of shares in the last 12 months: 6,878 shares |
|
offering/sale value* |
Value of sale of series A shares by existing shareholders: PLN 2,325,976.00 Value of other sale of shares in the last 12 months: PLN 64,921.20 |
|
issue/selling price* |
Selling price of series A shares: PLN 17.00 – 19.50 Selling price of shares in the last 12 months: PLN 0.10 – 19.00 |
|
company valuation* |
PLN 182,913,939.20 |
|
value of introduced instruments* |
PLN 29,477,939.20 |
|
% free float (below 5% in shares subject to the application) |
24.13% |
|
free float value* |
PLN 7,112,826.60 |
|
% free float (below 5% in all shares) |
3.89% |
|
free float value* |
PLN 7,112,826.60 |
|
number of shareholders (shares subject to the application) |
217 |
|
Authorised Advisor |
EQ1 spółka z ograniczoną odpowiedzialnością |
|
Links to other companies listed on NC/MM |
NONE |
* at the reference price equal to PLN 17.80
Issuer’s history and business
SOFTWARE MANSION S.A. (“Company”) was established as a result of the transformation of Software Mansion spółka z ograniczoną odpowiedzialnością spółka komandytowa into a joint-stock company. The Company (as a joint-stock company) was entered in the Register of Entrepreneurs of the National Court Register on 1 April 2022.
The Company has existed in its current legal form since 1 April 2022. However, its IT business had been conducted in various legal forms since 2012. Software Mansion was founded by three software developers who were looking for the perfect place to work after returning from overseas internships in the USA with companies such as Facebook Inc. (now Meta Inc.) and Google Inc.
Initially, Software Mansion worked on its own product (the Zonar application) but quite soon the company turned to working on projects for external clients. The first foreign clients were acquired as early as 2013. Today, Software Mansion works mainly for technology start-ups from Silicon Valley, the east coast of the US, and Europe.
The company operates a software house (software development agency). The Company provides clients with the team and technical expertise needed to work on client projects. The Company’s services focus on areas such as Mobile Applications, Web Applications, Infrastructure, Streaming and Multimedia, Blockchain, AI, UX/UI Design, Open-source and Developer Tools.
The Company currently provides services to around 40 clients. These are primarily technology start-ups, at various stages of development, with operations around the world with a predominance of the US market (currently approximately 75% of the Company’s revenue is generated by clients originating from the US). The Company does not specialise in one or a few industries but provides services to a broad range of industries: the dominant one is FinTech (about 20% of revenues), others include healthcare, blockchain, real estate, e-commerce, consumer applications.
Selected financial data of the Issuer (PLN):
|
|
30.06.2023 |
31.12.2022 |
31.12.2021 |
|
Equity |
18,104,674.73 |
17,021,365.00 |
10,613,973.00 |
|
Liabilities and provisions |
15,054,296.85 |
7,973,130.00 |
2,651,077.00 |
|
Total assets |
33,158,971.58 |
24,994,494.00 |
13,265,049.00 |
|
Net sales revenue |
34,317,541.35 |
50,030,178.00 |
30,232,498.00 |
|
Net profit |
5,284,629.61 |
12,150,339.00 |
10,348,847.00 |
|
Total net cash flows |
4,979,161.76 |
6,213,598.00 |
1,411,313.00 |
|
Cash (closing balance) |
16,892,543.95 |
11,913,482.00 |
5,699,886.00 |
123,533 existing series A shares - public offering
The public offering of the Issuer’s series A shares was conducted by existing shareholders from 5 December 2022 to 22 December 2022.
The offering of series A shares was conducted as a public offering pursuant to Article 1(3) of Regulation 2017/1129 and Article 37a of the Offering Act.
Series A shares were offered in the public offering to investors in two tranches. In tranche I, 33,167 shares were allotted at a selling price of PLN 17.00 per share, and in tranche II, 90,366 shares were allotted at a selling price of PLN 19.50 per share.
Value of the offering: PLN 2,325,976.00
Series A shares in the public offering were allotted to 237 investors.
Shareholders
|
Shareholder |
Number of shares |
Stake in share capital (%) |
Number of votes |
Stake in votes |
|
Marcin Skotniczny
|
4 493 237 |
43.73% |
4 493 237 |
43.73% |
|
Paweł Młocek |
2 691 615 |
26.19% |
2 691 615 |
26.19% |
|
Krzysztof Magiera
|
2 691 615 |
26.19% |
2 691 615 |
26.19% |
|
Other |
399 597 |
3.89% |
399 597 |
3.89% |
|
Total |
10 276 064 |
100% |
10 276 064 |
100% |
Financial instruments newly listed on NewConnect: 1,656,064 shares including 1,380,000 series A ordinary bearer shares, 178,775 series B ordinary bearer shares, 25,000 series C ordinary bearer shares, 22,294 series D ordinary bearer shares, 49,995 series E ordinary bearer shares.
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