B-Act S.A., an engineering company specializing in consultancy and supervision of construction investments, will start accepting subscriptions for series D shares within a public offering on 9th October. They will be accepted via the Public Offer Platform managed by the Brokerage House INC S.A. The issuer plans to raise up to 2.4 million PLN and allocate the funds to service the current backlog and extend it with projects implemented until 2027. Following the completion of the public offering and registration of increase in the National Court Register, B-Act S.A. plans to apply to the Warsaw Stock Exchange for the introduction of series D shares to the NewConnect market in 2024.
Engineering and consulting company B-Act S.A. supports the construction industry in project management and dispute avoidance. It acts as a contract engineer and contract administrator in construction investments. In 2022, the Company generated nearly 14 million PLN in revenue (an increase of 54% YoY) and 1.1 million PLN in net profit (an increase of 49% YoY). As of June 30, 2023, the value of the backlog from all markets amounted to 67 million PLN.
B-Act is currently carrying out 35 projects, most of which are in the Polish market. It should be noted that 85% of these are public orders, which significantly limits the counterparty risk. In Poland, the company is involved in such projects as the fast tram route to Wilanow in Warsaw, the expansion of the New Opera in Bydgoszcz, or the construction of a multifunctional military air port in Mirosławiec.
At the same time, the company is very active in the Ukrainian market, where it is involved in the reconstruction and construction of critical infrastructure. The company is involved in the construction of a transborder bridge on the Dniester, connecting Ukraine with Moldova. B-Act engineers have also been invited to cooperate with Japanese companies in the implementation of the Project for Improvement of Equipment for Infrastructure Reconstruction and Recovery for Ukraine. In Ukraine, B-Act has a representation in Kiev, which operates through field offices in Kharkiv and Vinnytsia.
“We have almost 30 years of unique experience in a highly specialized industry. For over a quarter of a century, we have been managing, advising and supervising the implementation of various construction investments. Poland remains a key market for us. In the coming years, we want to utilize the potential of our team in the implementation of railway, hydro-technical and power projects. At the same time, we are expanding our presence in the Middle East and Brazil. Thanks to our experience and reputation, we are invited to various international investment projects. To be able to continue to grow dynamically, we have decided to raise capital from investors, which we want to use to service the current backlog and to implement new projects.” – says Adam Białachowski, President of the Management Board of B-Act S.A.
New opportunities in the Middle East are related to the “Saudi Vision 2030” projects – one of the largest construction projects in the world, valued at 1.1 trillion USD.
At the same time, B-Act S.A. is preparing for active cooperation in the energy transformation of Poland. The key to developing competences and obtaining attractive contracts in this area is cooperation with the American company Power Engineers.
“We constantly set ourselves new challenges. The next one will be working on the energy transformation of our country. We started cooperating with one of the largest companies in the United States dealing with renewable energy projects. We hope that the new directions of development will translate into contracts in an area where we have so far not been present.” – adds Adam Białachowski.
Below is the schedule related to the public offering carried out by the company.
Public offering schedule:
From 09.10.2023 to 16.10.2023, 10:00 am – acceptance of share subscriptions and payments within the I tranche (Large Investors)
From 16.10.2023, 10:00 am to 30.10.2023, 11:59 pm – acceptance of share subscriptions and payments within the II tranche (Small Investors)
30.10.2023, 11:59 pm to 02.11.2023, 4:00 pm – III tranche (Supplementary)
