Premier Energy is one of the largest players in the renewable energy area, and the operation may reach RON907 million, according to ZF’s calculations based on the listing prospectus approval report.
The object of the offering consists of 1) primary offering through the sale of 25 million newly issued shares in the share capital increase operation, which can be increased up to a maximum of 30 million shares; 2) secondary offering: maximum 6.25 million existing shares held by EMMA shareholder Alpha Holding that can be increased up to 7.5 million shares and 3) offered for over-allotment a maximum 4.7 million shares held by EMMA.
The subscription price is RON19 to RON21.5 for institutional investors. Retail investors subscribe at the maximum price of RON21.5.
Based on the upper limit of RON21.5 and taking into account the scenario in which the majority shareholder and brokers sell the maximum number of shares, the offering is worth RON907 million. At the lower price, RON801 million. On the other hand, the value of the IPO is between RON670 million and RON772 million, without taking into account additional allocations.
Premier Energy Group was established in 2012, entered the natural gas market in Romania in 2013 and the electricity market of the Republic of Moldova in 2019. It is fully owned by EMMA Capital.
(English version by Loredana Fratila-Cristescu)