Sphera Franchise Group (SFG), which runs the Pizza Hut and KFC restaurants in Romania, starts today the listing offer on the Bucharest Stock Exchange. The subscription period will end on November 2.
The group’s shareholders will sell 9.8 million shares, representing a 25% stake, at a price ranging between RON 25 (EUR 5.4) and RON 32 (EUR 6.9) per share. The value of the initial public offering thus ranges between RON 245 million (EUR 53.2 million) and RON 325 million (EUR 70.6 million).
Romanian investor Lucian Vlad will sell a 22% stake in the company, namely 8.7 million shares, and could get over EUR 47 million from the transaction. Nicolae Badea, the former president of Dinamo Bucharest football club, also sells a 3% stake for over EUR 6 million. The biggest shareholder of Sphera Franchise Group is Radu Dimofte, who owns a 43.6% stake in the company.
The offer will be divided into two installments, namely 15% for individual investors and 85% for investment funds and other institutional investors. Czech brokerage firm Wood&Company coordinates the offer with Raiffeisen Bank and Alpha Finance Romania also involved in the process.