Premier Energy Group's IPO in Romania gets green light

Green Forum
Romanian power and gas distributor, Premier Energy Group, a subsidiary of Czech investment firm Emma Capital, disclosed that the country's financial oversight authority, ASF, has greenlit the prospectus for its upcoming initial public offering (IPO).

Scheduled between May 8 and May 15, the IPO will encompass a maximum of 35,937,859 shares. This includes 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-allotment shares provided by Emma Capital.

The price range for the IPO has been established between 19 lei ($4.11/3.82 euro) and 21.5 lei per share. Approximately 20% of the shares will be made available to retail investors, with the remainder reserved for institutional investors. Premier Energy and Emma Capital retain the option to augment the share count by up to 20%, with an additional 6,250,063 upsize shares, of which 80% will be fresh new shares and 20% will be existing shares.

The final offer price and the precise number of shares to be sold will be disclosed on or around May 16, following the completion of the book building process. Settlement is expected to occur on or around May 20. Subsequently, Premier Energy's shares are anticipated to commence trading on the BVB on or around May 27, according to the terms laid out in the prospectus.

Premier Energy had previously announced its intention to conduct an initial public offering on the Bucharest stock exchange the preceding month. 

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