on Rubean AG (isin : DE0005120802)
NuWays AG Updates Rating for Rubean AG, Recommends Buy
Rubean AG has successfully completed a 10% capital increase, which is expected to secure growth financing. The company increased its share capital from €3.276 million to €3.604 million. This capital increase generated €2 million, destined to support upcoming partnerships.
Additionally, Rubean AG reached an agreement with Cyclebit to convert an outstanding €3.4 million convertible bond into a regular bond. The repayment is scheduled in three tranches, relieving liquidity concerns.
Rubean AG's product roll-out is progressing rapidly, with several strategic partnerships signed. Management forecasts a 135% sales increase for FY24, aiming for €2.2-2.5 million in revenue.
NuWays AG considers an unchanged target price of €9.00 for Rubean AG, anticipating profitability by FY25 and a mid-term vision of over €10 million in sales by FY27.
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