The shares of Premier Energy (BVB: PE), one of the most dynamic energy groups in Romania, gained over 5% on their debut on the Bucharest Stock Exchange on Tuesday, May 28.

The company’s shares opened the trading session at RON 20.7, then went down to RON 20.5, before jumping and stabilizing over RON 21.

Premier Energy raised RON 695 million (EUR 140 mln) in an initial public offering (IPO) between May 8 and May 15. The IPO price was RON 19.5 per share. However, individual investors who placed their orders in the first three days of the IPO period got a preferential price of RON 18.53 per share, and gained over 10% on the first day of trading.

At noon, the PE shares were trading at RON 21.2 and the company’s market capitalization was RON 2.65 billion (EUR 533 mln).

editor@romania-insider.com

(Photo source: the company)