The IPO targets the sale of maximum 15 million existing TTS shares, representing maximum 50% of the company’s share capital.
The IPO will take place in two stages, one for retail investors for up to 2.25 million shares, and one for institutional investors for up to 12.75 million shares.
TTS Grup had sales of RON520 million in 2020 and a net profit of RON44 million. It has operations in nine countries and operates ten harbor terminals.
“Our plans complement the group’s current activities and target acquisitions, organic growth and continuous streamlining of operations while reducing carbon emissions,” said Petru Stefanut, CEO of TTS.
The company is currently held by 14 individuals. The management team and company founder hold together 67.57% of the share capital.