Source: Tanjug | Friday, 19.11.2021.| 09:44
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HTEC Group to Be First Serbian Company to List on New York Stock Exchange – Rough Date of Inclusion in One of Biggest Capital Markets Known Too

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The corporate communications manager of the Serbian HTEC Group, which yesterday announced the acquisition of the American company Momentum Design Lab, Katarina Urosevic, says that HTEC plans to list on the New York Stock Exchange.

HTEC Group would thereby become one of the global leaders when it comes to the development of digital products and the first company from Serbia to list on the New York Stock Exchange.

Urosevic says that the amount for which the American company Momentum Design Lab was acquired is a business secret.

HTEC Group (High Tech Engineering Center) was founded in Belgrade, and its seat is in San Francisco.

Since its founding in 2008, as a startup within the Business Technological Incubator of the Technical Faculties of the University of Belgrade, the company has realized incredible results and the quickest growth in the region. In the past two years, it has grown fourfold from 250 employees in four technology-development centers in Serbia to over 1,000 employees in 12 locations in six countries of Southeast Europe.

– We see on our path, in two to three years, the listing on the New York Stock Exchange, except that this is not a goal unto itself, but a means for us to provide new opportunities to our employees, but also position ourselves so that we have access to an even greater capital, which would enable the further growth, and to have the option of working with the biggest world companies – she said.

She adds that the data about the acquisition of the American Momentum Design Lab are a business secret and that the listing on the stock exchange could make more such data public.

– This is the third acquisition. In 2020, the Novi Sad-based company Execom was bought. In January, the local product design studio Konstrukt was acquired and that team enabled us, before Momentum’s arrival, to build a team of over 70 people who do design and product management – she said.

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