Romania: Premier Energy to list its shares at the Bucharest Exchange

Premier Energy, a supplier and distributor of natural gas in Romania owned by Emma Capital, has picked Citi Group and Wood & Company Financial Services to help it with listing its shares at Bucharest Exchange (BVB), Ziarul Financiar reported.
This could be the first major IPO on the Bucharest Exchange after Hidroelectrica last year.
The move comes after the company acquired Romanian electricity supplier CEZ Vanzare from Macquarie Asset Management at the end of last year. The terms of the deal were not disclosed, but Macquarie was reportedly targeting a price of at least EUR 15 million for the supply company, which is still trading under the name CEZ Vanzare.
Premier Energy Romania plans to list its shares on the main BVB floor, most likely through an initial public offering (IPO).
Established in 2007, Premier Energy operates as a distributor and supplier in the natural gas market in Romania, being the third largest profile player after Engie and E.ON.