The listing of Premier Energy increases the representativeness of the energy and utilities sector to 66% of the total capitalization of the Stock Exchange, said Radu Hanga, president of the Bucharest Stock Exchange.
“It is the biggest listing of an entrepreneurial company on the Bucharest Stock Exchange in the last 7 years. We had the Digi listing in 2017, which was bigger. If we look at the history of the Bucharest Stock Exchange, it is in the top 5 biggest listings of a private company that we had on the Stock Exchange. And through your listing we see an increase in the representativeness of the energy and utilities sector at the Bucharest Stock Exchange, approximately 66% of the total capitalization of the Stock Exchange. This percentage shows us how well it is represented energy sector on the Stock Exchange and shows us how much work we have to increase the representation of the other sectors of the Romanian economy on the Stock Exchange,” said Radu Hanga, at the official opening of the trading session dedicated to the listing of the Premier Energy company on the stock exchange, according to Agerpres.
He mentioned that Premier Energy enters the market with an anticipated capitalization of 2.4 billion lei, a share of 1% in the domestic capitalization and 1.52% of the capitalization of all energy and utility companies listed on the Stock Exchange.
According to a company statement, the price of the initial public offering of Premier Energy was set at 19.5 lei per share, which implies a market capitalization of 2.4 billion lei, respectively 489.8 million euros. Following the Offer, EMMA Capital continues to hold 71.25% of Premier Energy Group’s shares.
Romanian retail investors were entitled to a 5% discount from the Offer Price for subscription orders validly submitted during the first three business days of the Offer Period. The final offer price with a discount for the shares subscribed under these conditions is 18.53 lei per Offered Share.
The Offer consisted of a public offer addressed to retail and institutional investors in Romania and an offer addressed to eligible international institutional investors, with a final distribution of the Offered Tranches as follows: 20% of the Offer Shares allocated to retail investors, and the remaining 80 % of the Offer Shares allocated to institutional investors.