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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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Romanian FMCG distributor Aquila raises EUR 74 mln in biggest local IPO in four years

Aquila (ticker: AQ), one of the biggest distributors of fast-moving consumer goods (FMCG) in Romania has raised RON 367 mln (EUR 74 mln) in its initial public offering (IPO) on the Bucharest Stock Exchange. This is the largest IPO competed by a private company in Romania in the last four years.

The final IPO price was set at RON 5.5 per share, at the bottom end of the interval targeted by the company. The demand from retail investors was lower than in the previous IPOs carried out on the Bucharest Stock Exchange this year. Still, the tranche allotted to individual investors, which represented 15% of the total number of shares on sale, was 100% underwritten.

“Aquila completed a capital increase of RON 367 million (equivalent to EUR 74 million) through an initial public offering, this being the largest primary public offer made by a company with private shareholding through the Bucharest Stock Exchange. The successful completion of the Public Offer and the trust received from investors give us the opportunity to continue the path of expanding and consolidating the Aquila business to another level,” said Jean Dumitrescu, Investor Relations Director, Aquila.

The new shares sold in the IPO represent a third of the company’s total number of shares after the transaction. Aquila was thus valued at EUR 222 mln, which is 18.3 times more than the net profit reported for 2020 - EUR 12.1 mln.

Local brokerage firm Swiss Capital managed the IPO and BRK Financial Group and Tradeville were distribution agents. Local law firm Schoenherr si Asociatii provided the legal assistance for the IPO.

editor@romania-insider.com

(Photo source: Aquila Facebook page)

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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 

 

BSE

 

 

Romanian FMCG distributor Aquila raises EUR 74 mln in biggest local IPO in four years

Aquila (ticker: AQ), one of the biggest distributors of fast-moving consumer goods (FMCG) in Romania has raised RON 367 mln (EUR 74 mln) in its initial public offering (IPO) on the Bucharest Stock Exchange. This is the largest IPO competed by a private company in Romania in the last four years.

The final IPO price was set at RON 5.5 per share, at the bottom end of the interval targeted by the company. The demand from retail investors was lower than in the previous IPOs carried out on the Bucharest Stock Exchange this year. Still, the tranche allotted to individual investors, which represented 15% of the total number of shares on sale, was 100% underwritten.

“Aquila completed a capital increase of RON 367 million (equivalent to EUR 74 million) through an initial public offering, this being the largest primary public offer made by a company with private shareholding through the Bucharest Stock Exchange. The successful completion of the Public Offer and the trust received from investors give us the opportunity to continue the path of expanding and consolidating the Aquila business to another level,” said Jean Dumitrescu, Investor Relations Director, Aquila.

The new shares sold in the IPO represent a third of the company’s total number of shares after the transaction. Aquila was thus valued at EUR 222 mln, which is 18.3 times more than the net profit reported for 2020 - EUR 12.1 mln.

Local brokerage firm Swiss Capital managed the IPO and BRK Financial Group and Tradeville were distribution agents. Local law firm Schoenherr si Asociatii provided the legal assistance for the IPO.

editor@romania-insider.com

(Photo source: Aquila Facebook page)

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