The initial public offering through which Electro-Alfa International put up for sale up to 65.9 million new shares, representing about 35% of the post-money capital, was closed early on February 6, just five days after its start, amid high demand from investors. 

Both institutional and retail investors oversubscribed the offer, and in the small investor segment, orders reached approximately 383 million shares – equivalent to RON 3.4 billion (EUR 700 million) at an oversubscription rate of nearly 60 times, Ziarul Financiar reported.

The final price will be announced on February 9. The listing on the main market of the BVB, under the symbol EAI, is estimated for early March. 

Depending on the subscription price, the company's value would be between RON 1.57 billion (EUR 308 million) and RON 1.67 billion (EUR 327 million), post-money or EUR 200 million to EUR 210 million pre-IPO. Based on net profit estimated at RON 100 million (EUR 20 million) for 2025, this would result in a P/E ratio of nearly 10. 

The company plans to use the money raised under the ongoing IPO to boost activity, including by taking over companies already envisaged.

The European Bank for Reconstruction and Development is likely to become one of the shareholders of Electro Alfa International following the company’s ongoing initial public offering, according to Romanian media reports.

iulian@romania-insider.com

(Photo source: press release)