May 28 (SeeNews) - Shares in Romanian integrated energy and power infrastructure company Premier Energy [BSE:PE] rose on the first day of trading on the main regulated market of the Bucharest Stock Exchange (BVB) on Tuesday, bourse data showed.
Premier Energy began trading at 20.5 lei ($4.47/4.12 euro) per share at 0900 CET on Tuesday, data from the BVB showed. The company shares were priced at 19.5 lei per share in its initial public offering (IPO), resulting in a valuation of 2.4 billion lei.
You can download the 2024 Renewable energy in Southeast Europe report here
Czech investment company Emma Capital, which fully owned the power infrastructure company prior to the IPO, holds a 71.25% stake in Premier after the offering, with the remainder in free float on the bourse.
In 2023, Premier Energy booked a consolidated net profit of 78.8 million euro on consolidated revenues of 912 million euro, according to selected financial data released by the company at the time of the IPO's announcement.
Established in 2012, Premier Energy Group is the third largest natural gas distributor and supplier in Romania. It is also the largest electricity distributor and the largest supplier in Moldova, providing power to some 70% of that country's population. The company has a contracted renewable electricity generation portfolio of more than 1,000 MW.
(1 euro=4.9767 lei)