Premier Energy Group announces admission to trading and first day of dealings
Premier Energy, one of the fastest growing vertically integrated energy infrastructure companies in SEE and one of the largest renewable energy players in Romania and the Republic of Moldova announces the admission to trading of its shares on the Bucharest Stock Exchange (BSE). Trading commenced Tuesday at 10.00 AM EEST under the symbol “PE”.
As announced on 16 May 2024, the Company’s initial public offering of 35,937,859 new and existing shares was priced at RON 19.50 per Share, implying a market capitalisation of RON 2.4 billion (EUR 489.8 million) at Admission.
“Today’s listing and trading of Premier Energy’s shares on the Bucharest Stock Exchange is a hugely significant milestone in the Company’s ongoing growth and development. It marks the successful completion of our IPO, an achievement of which all our stakeholders should be very proud and I would like to thank everyone who has worked so hard to make this process a success,” said Jose Garza, Chief Executive Officer of Premier Energy.
“The Premier Energy investment story has been well-received and we are delighted to welcome all our new shareholders. Importantly, they not only recognised the Company’s strong track record to date, but also the exciting, energy-transition growth opportunities across the region which we are so well-placed to leverage and benefit from. We look forward to the continued success of Premier Energy and to delivering value for all our shareholders and wider stakeholders.”
Premier Energy Group is one of the fastest growing vertically integrated energy infrastructure companies in SEE and one of the largest renewable energy players in the region. The Company has over 1,000 MW of renewable electricity generation under ownership, management or in development in Romania and Moldova along with one of the fastest growing renewable electricity supply businesses in both countries.
Premier Energy Group is the third largest natural gas distributor and supplier in Romania with over 150,000 consumption points. It is also the largest electricity distributor and the largest supplier in Moldova with almost one million consumption points and more than 840,000 supply clients serving approximately 70% of the Moldovan population. Following the acquisition of the CEZ Vanzare supply business in Romania, Premier Energy Group serves a combined total of approximately 2.4 million electricity and natural gas supply clients in Romania and Moldova, the vast majority of which are households and small businesses.
Premier Energy was incorporated at the end of 2012, entered the Romanian gas market in 2013, and entered the Moldovan energy market in 2019. It is currently majority owned by EMMA Capital, one of the most experienced investment teams in CEE and SEE with a strong growth and value creation history and a well-established investor operator model.