JT Grup Oil S.A., a company that operates in the fuel distribution market and the developer of Romania’s newest private oil products terminal in the port of Constanta, will make available for public subscription through an Initial Public Offering (IPO), a number of 10,000,000 new shares issued with a nominal value of 1 RON, following the decision of the extraordinary general shareholders’ meeting to increase the company’s share capital.
The company has already received from the Bucharest Stock Exchange the agreement for listing on the Multilateral Trading System – AeRo market, operated by the BVB, standard section, and has taken the necessary steps for the approval by the ASF of the Public Offer Prospectus.
The offer is addressed both to retail and institutional investors.
“This initial public offer and, subsequently, the listing on the AeRO market of the Bucharest Stock Exchange represent the natural steps that JT Grup Oil is taking in this phase of development. We started this business in 2001 and since then we evolved all the time, overcoming the challenges that have appeared over the years. Now we are at a benchmark both for us and for Romania. Soon we will complete a strategic investment for us and for the region, the newest and most modern private oil products terminal in Romania, which will grow the business exponentially according to all the forecasts we have. In conjunction with this project, we are increasing our current lines of business and developing other new ones. Our willingness to open up to investors comes naturally at this time of strategic progress. The initial public offering and the listing on the market are an invitation to investors to join us in this new stage of JT Grup Oil’s growth and, at this point, I can also make them a promise: you will only earn with us.”, said Jean Paul Tucan, majority shareholder of JT Grup Oil.
The funding to be raised through the IPO will be used by the company to develop and strengthen its business lines, from increasing the volumes of fuel traded on the local market to opening refueling stations for individuals and completing as well as operating the JT terminal.
“JT Grup Oil is a company with a rich history and an outstanding reputation in the market. We have always focused on delivering the commitments we have made to our trading partners, no matter how challenging the market conditions have been, and this has only benefited us in the long run. We have a dedicated team of industry experts who have been with us from the beginning and demonstrated that they can handle the most difficult challenges. The business goals, which include launching new business segments and developing existing ones, are not only very well anchored in the economic reality, but have already provoked real interest in the regional market and brought us valuable discussions about possible strategic partnerships. Thus, all the conditions are met for this process of launching the initial public offering and listing the company on the AeRo market of the Bucharest Stock Exchange to bring added value to the entire economic sector, while shareholders who believe in our great growth potential will join us,” explained Bogdan Aldea, Chairman of the Board of Directors and Commercial Director of JT Grup Oil S.A.
During the 2023 fiscal year, JT Grup OIL SA, with 35 employees, reported a turnover of 224.4 million lei and a net profit of 5.7 million lei.
The intermediary of the initial public offering is Interdealer Capital Invest, and on the date of admission to trading on the multilateral trading facility operated by the Bucharest Stock Exchange, the shares will be traded under the “JTG” symbol.