DIGI officially expresses its intention to float on BVB

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DIGI, a leading provider of telecommunication services in Romania and Hungary, announced its intention to launch an initial public offering (IPO) of class B ordinary shares to the public, in Romania, and qualified international institutional and professional investors, a press release informs.

“Today (ed. note Tuesday) marks a historic moment for DIGI Communications and the wider Romanian economy. As one of the leading providers of telecommunications services in Romania and Hungary, our intention to float on the Bucharest Stock Exchange (BVB) is an exciting opportunity for the Romanian public and would be a proud achievement for us,” Serghei Bulgac, CEO of RCS & RDS, stated.

DIGI intends to apply for admission of the offer shares to trading on the Regulated Spot Market of BVB in May 2017.

“BVB welcomes with satisfaction the Intention to Float announcement published by Digi Communications N.V. We acknowledge it as next big step in the unique journey of the Romanian capital market, which, after a lot of work aimed at the market modernization, is becoming the most dynamic stock market in Central and Eastern Europe. We also appreciate the recognition of the Bucharest marketplace as of the market which has a great capability to absorb big transactions, and to attract domestic, international and global investors,” the representative of Romanian capital market stated in turn.

The company also has Class A ordinary shares which are issued but which are not part of the Offer and which will not be admitted to trading. Each class B share confers one vote and each class A share confers 10 votes. The class B shares will have the same dividend rights to the class A shares.

DIGI intends to target a free float of at least 25 percent of the company’s issued share capital, assuming exercise of the 10 percent over-allotment option, immediately following admission.

At end-2016, DIGI’s Romanian operations accounted for EUR 612.7 million, or 72.7 percent, of the total revenue, while the Hungarian operations accounted for EUR 137.9 million, or 16.4 percent, of the total revenue.

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