Over the past 12 months, the BEAM market index (BEAMX), which reflects the movement of companies traded in the growth capital segment of the Bulgarian Stock Exchange, has registered a clearly defined downward trend. In contrast to this market dynamic, Webit Investment Network (ticker WIN) has demonstrated a steady positive trend in both share price and trading activity.

WIN follows a different trajectory compared to the index, as the company's performance is driven by its specific profile as a public investment company with access to and investments in internationally recognized, fast-growing companies, granted through Webit and its global scaleup innovation program – Founders Games. This unique advantage is translated into value:

“Global crises are our luck” says Dr. Plamen Russev, founder and executive board member of WIN, in relation to the current capital increase. He shares that during downturns, WIN takes advantage of the lower valuations of fast-growing companies in which it has the Right of First Refusal (ROFR) to invest, thereby increasing the efficiency and purchasing power of shareholders' money. And the results, as evident, are more than impressive. Additionally, Dr. Russev gives an example with the most successful fund in history – Sequoia Fund 9, which was founded and operated precisely during the burst of the dot-com bubble in America at the beginning of the century. This fund returned 10 to 30 times the money to its shareholders while stock indexes were collapsing. He recalled that while WIN's IPO in 2022 gathered a record investment interest of around 14.5 million BGN (over 2.4 times higher than the then BEAM market threshold), the Nasdaq and S&P indexes were at -30 and -40, respectively.

Share price dynamics and capital activity

WIN's share price reached a peak of 1.39 BGN in March 2025, prior to the decision by the company's Board of Directors to increase the capital at an issue price of 1.25 BGN per share. Despite the set price for the new issue, the market price remains stable, with a growth of over 65% in the past year, with the last trade executed at 1.26 BGN as of 24.04.2025.

Currently, rights trading for participation in the capital increase is ongoing, with transactions in rights for new shares totaling approximately 3 million BGN so far. Rights trading will continue until April 29, 2025, and full information about the terms of the capital increase is available on the company's website: www.webit.network.

Liquidity and market activity

Over the past 12 months, WIN's liquidity has reached an exceptional 25.55% for the BSE and is the highest among the companies traded on the BEAM market. This means that more than a quarter of the company's value has been traded over the past year – a clear sign of active demand and high investor confidence. 

In addition to the high relative liquidity, distinct trading peaks have also been observed – including daily volumes of nearly 150'000 BGN, accompanied by a smooth and sustained increase in the share price. This indicates trust and heightened interest and activity from investors, including in the context of the ongoing capital increase process.

Expectations and financial reporting

By the end of April 2025, the audited report of WIN is expected to be published, which should include an upward revaluation of the company's net assets. This information may impact the market valuation of the company after the completion of the current new share issuance.

Additionally, Webit Investment Network has reported a growth of over 230% in the consolidated revenues of the companies in its portfolio, measured over the first two-year period. With this result, WIN ranks among the top 1% of global venture investment structures in terms of portfolio growth, according to analyses by four of the world's largest language AI models and comparisons with global VC benchmark data.

Success factors of WIN

• Publicity and transparency: As a public investment company, WIN combines the characteristics of a classic VC fund with the liquidity and accountability of a public market.
• High-quality portfolio and unique access and investment rights to top companies and deals: WIN invests in global companies selected through the Founders Games program, in collaboration with over 350 of the world's leading VC investors.
• Attracting new investors: The combination of access to the highest-yielding asset class – venture capital – with democratized access to some of the world's fastest-growing companies, low entry threshold (previously reserved only for top global funds with a minimum investment requirement of over $5M), and daily trading with very high liquidity, is unique for the region.

Conclusion:

The performance of WIN over the past 12 months shows steady growth in a declining market index environment and increased investor interest. The combination of high liquidity, rising price, executed capital activity, and positive financial expectations positions the company as structurally active and transparently engaged within the BEAM market. 

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