Premier Energy has announced its intention to conduct a €125 million IPO on the Bucharest Stock Exchange.
In particular, Premier Energy, one of the fastest growing private vertically integrated energy infrastructure companies in South-Eastern Europe and one of the largest renewable energy players in Romania and Moldova, announced on April 18 its intention to conduct an initial public offering (IPO) on the Bucharest Stock Exchange. As noted by Romanian media, this will be the first IPO on the Bucharest Stock Exchange since the listing of the Romanian state-owned company Hidroelectrica worth 2 billion euros in 2023. The Premier Energy offer will begin after the Romanian Financial Supervisory Authority approves the IPO prospectus. As part of the IPO, Premier Energy hopes to raise around €100 million through a capital increase, while the group's main shareholder, Emma Capital, plans to sell €25 million worth of shares. Thus, the total value of the IPO will be more than 125 million euros. Premier Energy plans to use the money raised from the IPO to fund future growth, particularly in its renewable energy generation segment. “While we are proud to be one of the fastest growing private energy infrastructure companies in South-East Europe, now is the right time for Premier Energy Group to pursue an IPO and take advantage of the excellent opportunities for accelerated development that a public listing on the Bucharest Stock Exchange will provide,” - said Premier Energy Group CEO Jose Garza. “As the largest renewable energy manager and aggregator of solar and wind power plants in Romania and Moldova, Premier Energy Group is well positioned to benefit from the projected growth of renewable energy in the region and build on our transformational recent acquisition of CEZ Vanzare and our successful track record of incremental acquisitions. And with our vertically integrated and diversified business model, which allows us to generate profits across the entire value chain and provide financial stability, we have a very compelling stock story to tell potential investors,” he added. Premier Energy owns, operates or develops more than 1,000 MW of renewable electricity generation capacity in Romania and Moldova, and is one of the fastest growing renewable electricity generation businesses in both countries. The group is the third largest distributor and supplier of natural gas in Romania with more than 150 thousand consumption points. It is also the largest electricity distributor and largest supplier in Moldova, with almost a million consumption points and more than 840 thousand customers, serving approximately 70% of the Moldovan population. Following the acquisition of CEZ's electricity and natural gas business in Romania, Premier Energy Group serves a total of approximately 2.4 million electricity and natural gas customers in Romania and Moldova. In 2023, Premier Energy generated consolidated revenue of €912 million, net profit of €78.8 million and EBITDA of €127.7 million. It is planned that after the IPO Emma Capital will remain the majority shareholder of Premier Energy. Emma Capital is an investment fund founded by Czech entrepreneur Jiří Šmejc, who is also the CEO of PPF, the largest investment fund in the region with assets of more than 14.5 billion euros.// 18.04.2024 — InfoMarket.
