Premier Energy, one of the fastest growing private vertically integrated energy infrastructure companies in Southeast Europe and one of the largest players in the field of renewable energy in Romania and the Republic of Moldova, announces the price of the initial public offering for 35,937. 859 of its new and existing ordinary shares. After the closing of the Offer, Premier Energy will apply for admission to the listing and trading of its shares on the Bucharest Stock Exchange (BVB).
Thus, the offer price was set at 19.5 lei per share, which implies a market capitalization of 2.4 billion lei (489.8 million euros).
Retail investors in Romania 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 discount offer price for shares subscribed under these conditions is 18.53 lei per share.
The 35,937,859 shares offered represent 28.75% of the total issued share capital of Premier Energy. The offer includes 25,000,250 new shares offered for subscription by the company, 6,250,063 existing shares offered for sale by its main shareholder EMMA Alpha Holding (EMMA Capital) and 4,687,546 over-allotted shares, made available by EMMA Capital.
Following the offer, EMMA Capital continues to hold 71.25% of Premier Energy Group’s shares (taking into account the sale of over-allotted shares).
20% of the shares are allocated to retail investors and the remaining 80% to institutional investors. The gross proceeds from the offer are 695.1 million lei, consisting of 483.5 million lei for the issuer and 211.5 million lei for the selling shareholder (taking into account the sale of the over-allocated shares).
Immediately after admission, the company’s shares will be included in the BSE’s BET index.
The company plans to distribute 30%-70% of its annual consolidated net profit as dividends.
“Premier Energy’s attractive investment outlook and considerable growth potential have been reflected in the strong demand we have witnessed, both from retail and institutional investors, in Romania and internationally. We are delighted with the success of the initial public offering and the listing on the Bucharest Stock Exchange, and we wish all our new shareholders a warm welcome. we are asserting ourselves as a regional leader in the transition to green energy,” said Jose Garza, CEO of Premier Energy Group.
