Premier Energy launches EUR 135 mln IPO on Bucharest Stock Exchange
<p>Premier Energy PLC, one of the fastest-growing energy companies in Romania and the SEE region, will carry out an initial public offering (IPO) on the Bucharest Stock Exchange (BVB) between May 8 and May 15, 2024.</p>

<p>Romania's Financial Supervisory Authority (ASF) <a href="https://www.bvb.ro/infocont/infocont24/Decizie_OPV_PE.pdf">approved the IPO prospectus</a> on Tuesday, May 7.</p>

<p>The company is looking to sell 25 million new shares in the IPO, while the majority shareholder - EMMA Alpha Holding – will sell 6.25 million existing shares. The shares sold in the IPO represent about 29% of Premier Capital's shares post-IPO.</p>

<p>The price interval for the IPO is RON 19 – RON 21.5 per share. Institutional investors will be able to subscribe shares at any price within this interval, while retail investors will subscribe at the maximum price of RON 21.5.</p>

<p>The total value of the offer will be between RON 594 mln and RON 671 mln (EUR 120-135 mln), depending on the final price. However, both the company and its majority shareholder are willing to increase the number of shares sold by up to 20% if the demand is high. If this happens, the value of the offer could potentially climb to RON 900 mln (EUR 181 mln).</p>

<p>Citigroup Global Markets Europe, UniCredit Bank and Wood &amp; Company Financial Services are the Joint Global Coordinators of the IPO. Alpha Bank Romania and BT Capital partners are Joint Bookrunners and Banca Transilvania is the distribution group.</p>

<p>Considering the maximum IPO price of RON 21.5 per share, Premier Energy's pre-IPO valuation is about EUR 357 million while the post-IPO valuation would be EUR 465 million. The group reported revenues of EUR 912 mln and a net profit of EUR 79 mln in 2023. The group's unaudited pro-forma results for 2023, considering the recent acquisition of local electricity supplier CEZ Vanzare, indicate revenues of EUR 1.29 bln and a net profit of EUR 99.5 mln.</p>

<p><a href="https://www.bvb.ro/Offers/Premier/ToProspectPremier">The IPO prospectus is available here.</a></p>

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