Following the transaction, Franklin Templeton will hold 5.2% of Purcari shares.
Shares of Purcari Wineries (WINE.RO), a leading CEE wine producer, started trading on Thursday, February 15, on the Main Market of Bucharest Stock Exchange, following a successful IPO of 49% of its shares.
The offering was well received, with retail investors oversubscribing more than four times over, despite heavy turbulence on global markets, and the Dow Jones recording the two largest point-drops on record. The final offer price was RON19 per share, valuing the offering at over RON186 million (some $50 million or EUR40 million).
Upon the successful completion of the IPO on the Bucharest Stock Exchange, Purcari’s majority shareholder reduced its stake to 22.7% from 63%.