JT Grup Oil debuts on the AeRO market of the Bucharest Stock Exchange
JT Grup Oil, 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, debuted today, August 6, on the AeRO market of the Bucharest Stock Exchange (BVB), under the stock symbol JTG. The listing of the company takes place after the conclusion of a public offer for the sale of shares, the third held on the AeRO market of the stock exchange, after which the company managed to attract 19.9 million lei from investors. The anticipated capitalization of the company is 186.1 million lei.
"A new company is taking to the stage of the local capital market today, being the fourth listing since the beginning of this year. The Bucharest Stock Exchange builds and creates one of the most suitable contexts for growth, development and transformation for Romanian entrepreneurs and for the companies that make the local economy work. We are glad that the JT Grup Oil team chose the AeRO market as the next stage in business development. Listed company status brings many opportunities, with each new issuer having the chance to capitalize on them and provide an example of good practice, including through fair and transparent communication with investors", said Radu Hanga, President of the Bucharest Stock Exchange.
"Our journey began in 2001, when we founded JT Grup Oil with the ambition to become an important player in the energy industry in Romania. The listing on the Bucharest Stock Exchange marks a new stage in this journey, a stage in which we open up to investors and commit ourselves to deliver, with dedication and perseverance, quality products, covering, at the same time, the fuel shortage in Romania. The debut on the AeRO market is a significant moment both for JT Grup Oil and for the investors who believed in the vision and potential of our company. It was a challenging period that required endurance and hard work, but thanks to our dedicated team and the constant support received from investors, we proved, once again, that perseverance and collaboration are the keys to success." said Bogdan Aldea, Chairman of the Board of Directors and CEO of JT Grup Oil.
"For more than two decades now, we have set out to transform JT Grup Oil into a reference company in the energy industry. Today, the listing on the Bucharest Stock Exchange represents the recognition of our efforts and achievements. Through access to the capital markets, we aim to attract essential financial resources to support the development of new business lines. We are a sustainable company, with a well-defined operational model, and the investment in JT Terminal, our own terminal on the Black Sea, will ensure the necessary infrastructure to meet the strategic objectives. Our openness to investors reflects our confidence in the company's potential and our commitment to transparency, corporate governance and solid financial results." points out Steluța Lebidov, CFO, JT Gup Oil.
Jean Paul Tucan, majority shareholder of JT Grup Oil, adds: "We are extremely pleased to officially announce our debut on the Multilateral Trading System, on the AeRO market of the Bucharest Stock Exchange. Today is a historic moment for our company, we are opening a new chapter in the development story of JT Grup Oil. The trading of shares is a validation of our vision and work, and we are happy to see that this once small company has grown and developed, becoming an example of success. We will continue to capitalize on the market's potential and provide solid returns for all our investors, while also contributing to the development of JT Terminal, the newest and most modern terminal on the Black Sea, which will strengthen Romania's position as a regional hub for liquid petroleum products."
The initial public offering carried out by JT Grup Oil between May 28 and June 10, 2024 was carried out with the support of Interdealer Capital Invest. During the offer period, subscribed in the proportion of 36.32%, a number of 2,163 subscriptions were made for a number of 3,632,272 shares. The price for one share was 6.5 lei/share, and for subscriptions made in the first five working days of the offer period, the price was 5.46 lei/share.
"The IPO of JT Grup Oil, brokered by Interdealer Capital Invest, was addressed ȋmainly to retail investors from the Romanian capital market and Romanian capital. The main objective of the offer was to attract as many retail investors as possible (over 1000) to ensure good liquidity at the time of trading of the shares, an objective that was not only achieved, but far exceeded the issuer's expectations, the offer being subscribed by more than 2,000 investors. The second objective was to attract financing through the capital market of approximately 54 million lei ȋfulfilled parÞial, the amount drawnUm from investors being approximately 20 million lei, a situation that gives us the opportunity to call in the future on other specific capital market operations to cover the estimated financing needs, according to the Group's development plans. The company JT Grup Oil wants to be an active issuer on the AeRO market of the Bucharest Stock Exchange, which has ȋin the plan the use of various financial instruments ANDtake the workÞthe services offered by the marketÞof capital thus contributing to the development of this marketÞit's for creANDtering the domestic capital", said Sorin Naș, administrator of Interdealer Capital Invest.
Founded in 2001, JT Grup Oil is one of the most important companies operating on the fuel distribution market in Romania. In 2008, the company introduced to the market more than 250 tanks equipped with pumps and level indicators. From 2023, JT Grup Oil diversified its product range, and entered the segment of duty-free diesel, which serves commercial vessels for the ports of Midia and Constanța. Currently, JT Grup Oil carries out fuel distribution operations in the South-Eastern area 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 to measure the quantity delivered. For fuel distribution in the northern part of the country, the company has partnerships with representatives of the business environment, long-term collaborators.
For more informationDo you:
Natalia Negru Botezan, PR & Media Relations Bucharest Stock Exchange, natalia.botezan@bvb.ro
Ioana Oprescu, Senior PR The Public Advisors, ioana.oprescu@publicadvisors.ro
