Premier Energy starts trading after EBRD-backed IPO

Romanian energy infrastructure company Premier Energy PLC (BSE:PE) started trading today on the Bucharest Stock Exchange after an initial public offering (IPO) that valued the company at RON 2.4 billion (USD 523m/EUR 482m).

The European Bank for Reconstruction and Development (EBRD) announced separately it is taking an equity stake in the company to support investments in renewable energy generation capacity in Romania and Moldova. The EBRD bought 11% of the IPO, investing RON 77 million, which will give it just over 3% of the company post-IPO.

Premier Energy, incorporated in Cyprus and majority owned by EMMA Capital, says it has over 1 GW of renewable electricity generation under ownership, management or in development in Romania and Moldova, as well as a rapidly growing renewable electricity supply businesses in both countries.

Premier Energy CFO Petr Stohr commented that the EBRD’s participation in the IPO was important for its success. “Their investment and support will enable us to accelerate our renewable energy generation projects within our vertically integrated platform which includes market-leading renewable energy forecasting, balancing and dispatching capabilities alongside serving approximately 2.4 million customers, in both Moldova and Romania, significantly contributing to a sustainable energy future and reducing the carbon footprint in the region,” the CFO added.

(RON 1 = USD 0.218/EUR 0.201)

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