The shares of DIGI Communications, telecom services supplier in Romania and Hungary, kick off trading today on the Bucharest Stock Exchange (BVB) under DIGI symbol, following the successful closing of the largest IPO of a private company concluded on the Romanian capital market, a press release informs.
The price of the shares offered was RON 40 per share. At this price, the value of the offering was over RON 944 million (EUR 207 million).
“The first issuer from the telecom sector is now listed on the Bucharest Stock Exchange following a successful market operation. The fact we witness companies from more diverse and dynamic economic fields getting listed on the stock exchange shows the degree of diversification and modernization to which the Romanian capital market has come. With returns in excess of 16 percent in just four months, Romania is the market showing one of the largest increases in Europe this year,” Ludwik Sobolewski, BVB’s CEO said.
The offer included 23.9 million shares, counting for 25.6 percent of the total shares issued by the company.
“We strongly believe the listing of DIGI will urge other entrepreneurial companies to follow in its footsteps and get listed on the stock exchange in order to access the capital offered by the investors, a capital so much needed to develop in an extremely competitive economic environment at local and international levels,” Lucian Anghel, BVB’s President stated in turn.
According to Serghei Bulgac, CEO Digi, the listing on the BVB represents an important moment in the history of the company.
“The offer of DIGI Communications was a success without precedent, proven by the very high interest on both retail and institutional tranches. We thank all investors for the trust, those who joined us before this moment and those joining on this way since now on. We look with great confidence towards the future and we promise to continue being a benchmark and a leader in innovation in our industry,” Bulgac commented.
Citigroup Global Markets Limited and Deutsche Bank AG, London Branch acted as Joint Global Coordinators and intermediated the offer jointly with BT Capital Partners S.A., Raiffeisen Bank S.A., Société Générale S.A./BRD – Groupe Société Générale S.A. and Wood & Company Financial Services.