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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

The Capital Markets News section is sponsored by the Bucharest Stock Exchange 

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Biggest warehouse owner in Romania valued at EUR 5.6 bln upon Amsterdam listing

CTP, the biggest logistics parks owner in Romania, was valued at EUR 5.6 billion following the pricing of its initial public offering (IPO) on Euronext Amsterdam. The group set a price of EUR 14 per share for the IPO, which is closer to the bottom of the EUR 13.5-16 range targeted for this transaction.

CTP sold 61 million new shares in the IPO, representing 15.4 % of its total number of shares, for EUR 854 million. The IPO also has an Over-Allotment Option that allows CTP’s majority shareholder to sell up to 9.15 million shares at the same price (EUR 14 per share, or EUR 128 mln in total).

“The Offer was oversubscribed multiple times at the Offer Price with strong demand from institutional investors globally, including a significant proportion of high-quality long-only accounts who were attracted by the very strong prospects of the business,” CTP said in a press release.

CTP is the biggest logistics space owner in Central and Eastern Europe (CEE), with a portfolio worth EUR 5.87 bln at the end of 2020. More than half of this portfolio is located in the Czech Republic, while Romania is the company’s second-biggest market. CTP’s portfolio in Romania was valued at EUR 976 mln at the end of 2020, according to the IPO prospectus.

CTP plans to use more than half of the money raised in the IPO to finance the development of new projects, about a quarter for new acquisitions, and the rest to repay some of its debts. The group also plans to use about EUR 250 mln of the IPO proceeds for new investments in Romania, according to its CEO and majority shareholder Remon Vos.

editor@romania-insider.com

(Photo source: CTP)

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

The Capital Markets News section is sponsored by the Bucharest Stock Exchange 

BVB
 

Biggest warehouse owner in Romania valued at EUR 5.6 bln upon Amsterdam listing

CTP, the biggest logistics parks owner in Romania, was valued at EUR 5.6 billion following the pricing of its initial public offering (IPO) on Euronext Amsterdam. The group set a price of EUR 14 per share for the IPO, which is closer to the bottom of the EUR 13.5-16 range targeted for this transaction.

CTP sold 61 million new shares in the IPO, representing 15.4 % of its total number of shares, for EUR 854 million. The IPO also has an Over-Allotment Option that allows CTP’s majority shareholder to sell up to 9.15 million shares at the same price (EUR 14 per share, or EUR 128 mln in total).

“The Offer was oversubscribed multiple times at the Offer Price with strong demand from institutional investors globally, including a significant proportion of high-quality long-only accounts who were attracted by the very strong prospects of the business,” CTP said in a press release.

CTP is the biggest logistics space owner in Central and Eastern Europe (CEE), with a portfolio worth EUR 5.87 bln at the end of 2020. More than half of this portfolio is located in the Czech Republic, while Romania is the company’s second-biggest market. CTP’s portfolio in Romania was valued at EUR 976 mln at the end of 2020, according to the IPO prospectus.

CTP plans to use more than half of the money raised in the IPO to finance the development of new projects, about a quarter for new acquisitions, and the rest to repay some of its debts. The group also plans to use about EUR 250 mln of the IPO proceeds for new investments in Romania, according to its CEO and majority shareholder Remon Vos.

editor@romania-insider.com

(Photo source: CTP)

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