Premier Energy PLC, one of the fastest-growing energy companies in Romania and the SEE region, will carry out an initial public offering (IPO) on the Bucharest Stock Exchange (BVB) between May 8 and May 15, 2024.
Romania’s Financial Supervisory Authority (ASF) approved the IPO prospectus on Tuesday, May 7.
The company is looking to sell 25 million new shares in the IPO, while the majority shareholder – EMMA Alpha Holding – will sell 6.25 million existing shares. The shares sold in the IPO represent about 29% of Premier Capital’s shares post-IPO.
The price interval for the IPO is RON 19 – RON 21.5 per share. Institutional investors will be able to subscribe shares at any price within this interval, while retail investors will subscribe at the maximum price of RON 21.5.
The total value of the offer will be between RON 594 mln and RON 671 mln (EUR 120-135 mln), depending on the final price. However, both the company and its majority shareholder are willing to increase the number of shares sold by up to 20% if the demand is high. If this happens, the value of the offer could potentially climb to RON 900 mln (EUR 181 mln).
Citigroup Global Markets Europe, UniCredit Bank and Wood & Company Financial Services are the Joint Global Coordinators of the IPO. Alpha Bank Romania and BT Capital partners are Joint Bookrunners and Banca Transilvania is the distribution group.
The IPO prospectus is available here.
editor@romania-insider.com
