This valuation amounts to €482.4 million euro. The offering, which took place from May 8th to May 15th, consisted of 35,937,859 shares, representing 28.75% of the company's total issued share capital, as stated in a press release by Premier Energy.
The company plans to use the funds raised through the listing to acquire renewable energy assets in Romania and Moldova, and to cover capital expenditures for the development of renewable energy production assets.
Premier Energy plans to distribute 30% - 70% of its consolidated annual net profit as dividends. The offer consists of 35,937,859 shares, representing 28.75% of Premier Energy's total issued share capital. After the offer, EMMA Capital will retain 71.25% of Premier Energy Group's shares, considering the sale of the over-allocated shares. The offer price is set at 19.5 lei per share, implying a market capitalization of 2.4 billion lei (489.8 million euros). The gross proceeds from the offer total 695.1 million lei, with 483.5 million lei for the issuer and 211.5 million lei for the selling shareholder, including the sale of the over-allocated shares.
Premier Energy Group has over 1,000 MW of renewable energy generation capacity owned, managed, or under development in Romania and Moldova. In Romania, the group is the third-largest distributor and supplier of natural gas, serving over 150,000 consumption points.
