Shelly Group Announces Successful Private Placement to Increase Free Float

Shelly Group AD, a key player in the IoT and smart building sector, has successfully placed 500,000 shares in an oversubscribed private placement. Co-founders Dimitar Dimitrov and Svetlin Todorov, who remain major shareholders, responded to strong investor interest. The shares represent approximately 2.7% of the company's share capital and were placed with institutional investors, including BIT Global Internet Leaders 30 Fund.

The private placement aims to enhance the liquidity of Shelly Group’s shares, a strategic move following the company's trading debut on XETRA. With the company's sights set on SDAX inclusion, Shelly Group's market capitalization is now around EUR 650 million. Wolfgang Kirsch, Co-CEO, endorsed the strategic impact of this move.

BIT Capital's Jan Beckers expressed enthusiasm for Shelly Group’s growth potential in the Smart Home and IoT market. Shelly Group’s continued focus on innovation and market expansion remains promising for its future trajectory.