Per the report, Utilico Emerging Markets, a British investment trust dedicated to investments in infrastructure, utility and related sectors in the emerging markets, owns 1.5 million voting rights which correspond to an investment of approximately RON30.1 million, per calculations by Ziarul Financiar (ZF) based on current trading prices.
Half of the 12 million shares bought by large investors in the initial public offering (IPO) preliminary to TTS’s listing on the Bucharest Stock Exchange was acquired by three investors, respectively, Paval Holding, Dutch group NN and private pension fund VITAL, TTS said Monday (June 14)
Thus, Paval Holding, the financial investment vehicle of brothers Adrian and Dragos Paval – who own DYI retail chain Dedeman, reached an ownership of 5.3% in TTS, Dutch group NN reached a holding of 10.2%, of which 7.6% via NN Pensii, the largest private pension fund manager on the mandatory segment in Romania (Pillar II), and Pillar II private pension fund Vital, managed by Aegon, reached an ownership of 6.5% in TTS, per data reported by TTS to the stock market.
Paval Holding acquired 5.3% in TTS for RON31 million, NN Pensii acquired 7.58% in TTS for RON44 million and private pension fund VITAL acquired 6.5% in TTS.
TTS shareholders sold 15 million shares, of which 12 million shares were offered to institutional investors. Per ZF calculations, Paval Holding, NN and VITAL acquired 6.6 million shares, namely, half of the batch for large investors.
TTS shares started trading on the Bucharest Stock Exchange Monday, June 14, 2021. TTS carried out its IPO between May 24 and June 4, 2021, through which the company’s shareholders sold 50% of the shares for RON288 million. TTS closed its IPO at RON19.2 per share and has a pre-listing capitalization of RON576 million.