Premier Energy debuted on May 28 on the Bucharest Stock Exchange following the successful completion of an IPO valued at almost €140 million, the largest on the exchange in the last 5 years.
The Bucharest Stock Exchange announced this, noting that Premier Energy (stock symbol: PE), a producer, balancer, distributor and supplier of electricity, as well as a supplier and distributor of natural gas, made its debut today on the Bucharest Stock Exchange after the successful completion of its IPO (initial public offering) of 695 million Romanian lei, which is the largest IPO of an entrepreneurial company on the Bucharest Stock Exchange in the last 5 years. The offering sold 35.9 million shares between May 8 and May 15, of which 25 million shares were newly issued, 6.25 million shares were sold by the sole shareholder and 4.7 million shares were re-allocated. The offer price was set at 19.5 RON per share. Retail investors were allocated a tranche of 20% of the offering amount, during which they placed orders for RON 1.1 billion for 51 million shares. Shares of Premier Energy have begun trading on the Bucharest Stock Exchange under the stock symbol PE and, starting today, investors can trade them through brokers authorized to trade on the stock exchange. The President of the Bucharest Stock Exchange, Radu Hanga, congratulated the entire Premier Energy team and everyone who contributed to the success of this offer, noting that this is one of the largest offers carried out by an entrepreneurial company on the Bucharest Stock Exchange. According to him, the listing of Premier Energy strengthens the presence on the Bucharest Stock Exchange of companies from the energy and utilities sectors that are of strategic importance for Romania, and at the same time demonstrates that the stock exchange is one of the main financing channels for companies with ambitious plans. “We are pleased that this time too we have seen very high interest from retail investors, which once again confirms that our capital market has potential and that Romanians are increasingly supporting the idea of investing in the stock market,” said the President of the Bucharest Stock Exchange. In turn, its CEO Adrian Tanase noted that these days the Bucharest Stock Exchange (BSE) is again in the spotlight due to the proposal of the company Premier Energy, whose shares are traded on the stock exchange as of today. “The success of the proposal has brought Romania back into the spotlight on the map of institutional investors, and the strong interest from retail investors once again shows that Romanian investors have a high appetite for investing in companies listed on the BSE. We are convinced that this proposal will also contribute to an increase in the number of investors on the stock exchange, which has tripled over the past 5 years and reached almost 200 thousand. After 2023, when the BSE showed very good results and indicators that surpassed the markets of the region, the emergence of a new issuer of Premier Energy's size allows us to be confident in the future of the capital market in Romania,” he emphasized. Premier Energy CEO José Garza noted that the listing on the Bucharest Stock Exchange marks a historic moment for Premier Energy and reflects investor confidence in its sustainable growth strategy. “The funds raised through this IPO will enable us to accelerate investments in renewable energy and expand our activities in Romania and Moldova, thereby contributing to the energy transition in the region,” he said. Premier Energy chief financial officer Peter Stohr said the success of this IPO is a clear demonstration of strong investor interest in the region's energy sector. “With the funds received, we will primarily focus on continuing to increase renewable energy production and balance capacity across our vertically integrated platform. We are very confident that this listing will bring significant benefits to the company, our shareholders and the communities for which we operate,” he said. In turn, the Managing Director of WOOD & Company, Bogdan Campianu, emphasized that the company is particularly honored to participate in the new successful IPO held on the Bucharest Stock Exchange, and thus become an important milestone in the development of Premier Energy. According to him, the listing of Premier Energy represents a new step in the development of the capital market in Romania. “We are confident that this success will inspire and give confidence to other outstanding companies to take this step in the next period. We are confident that today marks the beginning of a new period of remarkable results and development for Premier Energy, and we wish the company every success as it begins this journey,” he said. Premier Energy Group is one of the fastest growing players in vertically integrated energy infrastructure in South-East Europe. The Group has over 1,000 MW of renewable electricity generation capacity owned, operated or developed in Romania and Moldova and is one of the fastest growing entities in the supply of renewable electricity in Romania and Moldova. In Romania, the Premier Energy group is the 3rd largest distributor and supplier of natural gas in terms of volume and network size, with more than 150 thousand consumption points. In Moldova, the Premier Energy Group is the largest distributor with almost a million consumption points and the largest supplier of electricity with more than 840 thousand consumers, representing approximately 70% of the population of Moldova. Through the acquisition of CEZ Vanzare in Romania, Premier Energy Group serves approximately 2.4 million electricity and natural gas customers in Romania and Moldova, the vast majority of which are households and small businesses. Premier Energy Group's business strategy is aligned with the UN Sustainable Development Goals, with a focus on the European Green Deal initiatives, which are EU proposals to implement clear climate policies to reduce net greenhouse gas emissions by at least 55% by 2030 through compliance with ESG standards and policies. According to information in the listing prospectus, the amount raised will be used for the acquisition of renewable energy generation assets in Romania and Moldova, as well as for capital expenditures for the development of renewable energy generation assets.// 28.05.2024 — InfoMarket.
