The capital markets team of Elias Neocleous & Co LLC has successfully assisted Premier Energy PLC in relation to the initial public offering (IPO) and listing on the Bucharest Stock Exchange. This transaction, valued at approximately €482 million, marks the largest IPO on the Bucharest Stock Exchange in the last five years.
Our team, led by Managing Partner Elias Neocleous and supported by Senior Legal Counsel Michael Pelosi, Partner Demetris Roti, and Senior Associate Christos Kafouris, in collaboration with various multi-disciplinary departments within the firm, provided inter alia regulatory, corporate and capital markets advice to Premier Energy PLC, a Cypriot registered entity. Additionally, we advised Emma Alpha Holding Ltd, another Cypriot registered entity, from the initial stages of the transaction up to and including the successful listing.
The European Bank for Reconstruction and Development (EBRD) has supported this milestone IPO by acquiring 11% of the offering, following a €15.5 million investment. The investment is expected to represent just over 3% of the company post-IPO.
Premier Energy PLC is a leading renewable energy company operating in Romania and the Republic of Moldova. The company is also the 3rd largest natural gas distributor in Romania in terms of volumes and network size, with over 150,000 consumption sites; and Moldova's largest distributor and supplier of electricity, serving approximately 70% of the country's population. Premier Energy PLC is considered one of the fastest-growing vertically integrated energy infrastructure companies in southern and eastern Europe.