Sphera Group’s IPO ends in success in the middle of the price range. Institutional investors bought 95% of the 285 million lei (EUR62 million) offering. At a price of RON29/share, its P/E ratio stands at 22, while the Bucharest Stock Exchange main index BET’s P/E is 12.46. Capitalization stands at RON1.14 billion.
The IPO was handled by Raiffeisen Bank, Wood & Company and Alpha Finance, while Rothschild Bank served as financial adviser.
Sphera Group runs 105 restaurants at the moment and its RON1.14 billion capitalization makes it the 16th most valuable issuer in Bucharest.
Owners Lucian Vlad and Nicolae Badea sold 8.667 million shares or 22.34% in the company for RON251.3 million and 1.163 million shares or 3% for RON33.75 million. The new shareholder structure is as follows: Radu Dimofte (43.67%), Nicolae Badea (20%), Lucian Vlad (10.99%), institutional investors (24.07%) and retail investors (1.26%).
Sphera plans to double the number of restaurants in Romania by 2022. Its plans also include 32 new KFC restaurants in Italy in five years and 10 Taco Bell restaurants in Romania in the next three. (EUR1=RON4.5942)
(English version by Loredana Fratila-Cristescu)