May 8 (SeeNews) – Romanian electricity and gas distributor Premier Energy Group [BSE:PE]a subsidiary of Czech investment company Emma Capital, said that the Romanian financial regulator ASF has approved the prospectus of its initial public offering (IPO).
The IPO will take place between May 8th and 15th and will consist of up to 35,937,859 shares, of which up to 25,000,250 new shares offered for subscription by Premier Energy, up to 6,250,063 existing shares offered by Emma Capital and up to 4,687,546 over-allotments provided by Emma Capital, Premier Energy said on Tuesday in a press release submitted to BVB on the Bucharest Stock Exchange.
You can download the report “Renewable Energies in Southeastern Europe 2024” here
You can subscribe to our M&A newsletter here
The price range of the IPO was set at 19 lei ($4.11/3.82 euros) and 21.5 lei per share. Up to 20% of shares will be offered to retail investors, while the remainder will be offered to institutional investors. Premier Energy and Emma Capital may also decide to increase the number of shares offered by up to 20% to obtain an additional 6,250,063 Upsize Shares, of which 80% will be additional new shares and 20% will be additional existing shares.
The offer price and the exact number of shares to be sold will be announced on or about May 16 following the bookbuilding process. Settlement will occur on or about May 20th. According to the prospectus, the Premier Energy shares will be admitted to trading on BVB on or around May 27th.
Premier Energy announced its intention to launch an initial public offering on the Bucharest Stock Exchange last month. The electricity and gas distributor is currently wholly owned by Emma Capital. After the successful completion of the IPO, the Czech investment company will continue to hold the majority of shares in Premier Energy Group.
(1 euro=4.9757 lei)
Comments are closed.