In recent days, both Premier Energy and JT Grup Oil have announced plans for initial public offerings (IPOs) on the Bucharest Stock Exchange, marking a new wave of listings influenced by the landmark €2bn IPO of Romanian hydropower giant Hidroelectrica in 2023. This IPO, the largest share listing in Europe last year, has significantly boosted the local capital market. The IPO announcements also follow Romania’s elevation to Emerging Market status by FTSE Russell in 2020, further enhancing the country’s financial market profile.
Premier Energy, an energy group active in Romania and Moldova, initiated procedures with the Romanian Financial Supervisory Authority (ASF) for its €125mn IPO on April 18. This will be the first IPO on the BVB since Hidroelectrica’s. Jose Garza, CEO of Premier Energy Group, emphasized the timing and potential of the IPO, stating, “Now is the right time for Premier Energy Group to conduct an IPO and to leverage the exciting opportunities for accelerated development that a public listing on the Bucharest Stock Exchange will deliver.” Premier Energy aims to use the funds raised to accelerate its development, particularly in renewables production, as the largest manager and aggregator of solar and wind plants in Romania and Moldova.
Following Premier Energy’s announcement, independent fuel distribution company JT Grup Oil revealed plans for its own IPO. CEO Jean Paul Tucan announced that JT Grup Oil will list its shares on the alternative market AeRO of the Stock Exchange. JT Grup Oil recently completed the first stage of a €25mn oil products terminal in Constanta port and has diversified its product range to include excise-free diesel for commercial vessels. These announcements reflect the transformative impact of the Hidroelectrica IPO on the Romanian capital market, which has achieved numerous historical highs.
