JT Grup Oil announces the launch of an initial public offer for the sale of 10,000,000 new ordinary shares issued following a capital increase operation
JT Grup Oil SA, a company active in the fuel distribution market and the developer of the newest private terminal for petroleum products in Romania in the port of Constanța, will make available to the public for subscription, through an Initial Public Offering (IPO), a number of 10,000,000 newly issued shares, with a nominal value of 1 leu, as a result of the decision of the extraordinary general meeting of shareholders to increase the company's share capital.
The company has already obtained from the Bucharest Stock Exchange the Agreement in principle for listing in the Multilateral Trading System - the AeRo market, operated by the BVB, the standard section and undertook the steps for the approval of the Public Offer Prospectus by the ASF.
The offer is addressed to both retail and institutional investors.
"This initial public offering and, subsequently, the listing on the AeRO market of the Bucharest Stock Exchange represent the natural steps that JT Grup Oil is taking in this development phase. I started this business in 2001 and since then we have been in a continuous evolution, overcoming the challenges that have appeared over the years. We are now at a point of reference both for us and for Romania. In a short time we will complete a strategic investment for us and for the region, the newest and most modern private terminal for petroleum products in Romania, and the business will grow exponentially according to all the forecasts we have. Concurrent with this project, we are growing our current lines of business and developing new ones. Our openness to investors thus comes naturally at this time of strategic development of the company. The initial public offering and listing is an invitation to investors to join us in this new stage of JT Grup Oil's growth, and at this time I can also make a promise: you will only win with we.", stated Jean Paul Tucan, the majority shareholder of JT Grup Oil.
The financing that will be attracted through the initial public offering will be used by the company for the development and consolidation of the business lines, from increasing the volumes of fuel traded on the local market to the opening of fuel stations in commercial centers, intended for individuals, as well as the completion and JT terminal operation.
"JT Grup Oil is a company with a rich history and an impeccable reputation in the market. We have always focused on honoring the commitments we have with our trading partners, however difficult the market conditions may have been, and this has only benefited us in the long term. We have a team of industry professionals who have been with us for a very long time and have proven that they can handle the most complex situations. The business objectives, which include the launch of new business segments and the development of existing ones, are not only very well anchored in economic reality, but have already caused real interest in the regional market and brought us valuable discussions about possible strategic partnerships. Thus, all the conditions are met for this process of launching the initial public offer and listing the company on the AeRo market of the Bucharest Stock Exchange to bring added value to the entire economic sector, while shareholders who believe will join us in the great growth potential we have", he explained Bogdan Aldea, President of the Board of Directors and Commercial Director of JT Grup Oil SA
In fiscal year 2022, JT Grup OIL SA, with 35 employees, reported a turnover of 301,649,192 lei and a profit of 6,300,656 lei.
The intermediary of the initial public offer is SSIF INTERDEALER CAPITAL INVEST SA., and lthe date of admission to trading within the multilateral trading system operated by the Bucharest Stock Exchange, the shares will trade under the symbol "JTG".
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About JT Grup Oil SA
Currently, JT Grup Oil SA carries out fuel distribution operations in the South-East of Romania with the help of its own fleet of 11 tanks with a capacity of up to 40,000 liters, equipped with pumps and indicators for measuring the delivered quantity. For fuel distribution in the northern part of the country, the company has partnerships with representatives of the business environment, long-term collaborators.
Founded in 2001, JT Grup Oil SA is one of the most important companies active in the fuel distribution market and the developer of the first private terminal for petroleum products in Romania in the port of Constanța. In 2004-2005, he built a bitumen terminal in Medgidia, which he sold shortly after receiving it, and the money obtained from the sale was invested in the development of the fuel distribution network. In 2008, the company began to develop the distribution network and introduced to the market more than 250 tanks equipped with pumps and level indicators. From 2023, JT Grup Oil SA diversified its range of products, and entered the segment of duty-free diesel fuel, which serves commercial vessels for the ports of Midia and Constanța.
