JT Grup Oil gets Bucharest Exchange permit to list its shares after IPO
<p>Romanian independent petroleum products distribution firm JT Grup Oil, controlled and managed by local entrepreneur Jean Paul Tucan, confirmed the initial public offering of 10 million new shares with a face value of RON 1 to both retail and institutional investors as per the decision approved by the company’s shareholders.</p>

<p>The new shares would account for 28.5% of the total number of shares after the IPO, according to comments previously made by <strong>Jean Paul Tucan</strong>.</p>

<p>The company also announced that it already received the permit to list its shares at the Bucharest Stock Exchange (BVB) on the alternative market AeRO.</p>

<p>The company’s CEO, Jean-Paul Tucan, estimated in a recent interview given to Ziarul Financiar that the company’s (market) capitalization would be higher by EUR 12 million-14 million compared to current (book) capitalization. Given the current (book) capitalization of some EUR 5 million, it means that the market capitalization is expected at EUR 17 million-19 million, or the equivalent of RON 2.4-2.7 per share.&nbsp;</p>

<p>In 2023, JT Grup Oil reported a turnover of RON 224.4 million (EUR 45 million) and a net profit of RON 5.7 million (EUR 1.1 million).</p>

<p><em>iulian@romania-insider.com</em></p>

<p><em>(Photo source: the company)</em></p>