Premier Energy Plans IPO to Raise 100 Million Euros in Renewable Energy Investment

Domestic financier Jiří Šmejc wants to continue investing heavily in renewable energy. His company Premier Energy, which is one of the largest gas and electricity distributors in Romania and Moldova, announced a plan to sell part of its shares on the stock exchange.

As part of the initial public offering (IPO), Premier Energy wants to raise around 100 million euros (25 billion crowns) by raising capital, while at the same time the main shareholder of the group, the company Czech Emma Capital, plans to sell. shares worth 25 million euros (630 million crowns). The total value of the IPO will therefore exceed 125 million euros.

The company will start offering shares to investors as soon as the Romanian Financial Supervisory Authority (ASF) approves the prospectus for the public share offering. This is the first IPO on the Bucharest Stock Exchange after the Romanian state electricity producer Hidroelectrica entered the stock exchange last year worth two billion euros.

“As the largest renewable energy operator and integrator of solar and wind farms in Romania and Moldova, Premier Energy Group is well positioned to benefit from the expected growth in renewables in the region and build on our recent transformational acquisition of CEZ Vanzare and our acquisition. history, said Chief José Garza in an official statement.

Premier Energy intends to use the funds raised in the IPO to fund future growth, particularly in the renewable energy generation sector.

Premier Energy owns or manages over 1,000 megawatts of renewable electricity under construction in Romania and Moldova and is one of the fastest growing renewable electricity suppliers in both countries. For example, he recently completed the largest solar park in Moldova.

The group is the third largest distributor and supplier of natural gas in Romania with more than 150,000 consumption points. It is also the largest distributor and largest supplier of electricity in Moldova, with nearly one million consumption points and more than 840,000 customers, supplying approximately 70 percent of the Moldovan population.

Following the recent acquisition of CEZ Vanzare in Romania, Premier Energy Group serves approximately 2.4 million electricity and natural gas customers in Romania and Moldova.

In 2023, Premier Energy achieved consolidated sales of 912 million euros (23 billion crowns), net profit of 78.8 million euros (two billion crowns) and adjusted total operating EBITDA of 127.7 million euros (3.2 billion crowns).

After entering the stock exchange, Šmejc’s Emma Capital will remain the main shareholder of Premier Energy, which started operating in Romania ten years ago. Emma Capital is an investment fund founded by Czech entrepreneur Jiří Šmejc. Apart from Šmejc, a small part of the group’s shares belong to the managers. Jiří Šmejc is also the CEO of the PPF Group, which manages assets of more than 40 billion euros.

Citigroup and UniCredit Bank are responsible for the main share subscription, as well as the investment company WOOD & Company.