The Prospectus for the initial public offering (IPO) and admission to the regulated market of Fintel Energija a.d. Beograd was published on the web pages of the Belgrade Stock Exchange on July 25, thereby officially initiating the process of the company's IPO, the Belgrade Stock Exchange announced.
As said, the company plans to gather EUR 27.5 million by issuing 6,500,000 regular shares at the nominal value of RSD 500 per share this way, for the enhancement of their operations.
Share subscription is carried out at the investment company M&V Investments a.d. Beograd or certain branch offices of Komercijalna Banka, listed in the Prospectus It will last for the upcoming 90 days, following which they are expected to be included in the Belgrade Stock Exchange Prime Listing, it is specified.
– This is an extremely important day for the local capital market, the economy and the citizens. For the first time, a private company operating in Serbia is gathering funds for its future operations through the capital market. This opens new possibilities for both companies and potential investors, who will be able to make their investment decisions based on the information available publicly in the published Prospectus. We hope that now when the business ecosystem that will facilitate the gathering of capital has been officially established and tested in Serbia, other enterprises and market participants will recognize the benefits of financing their operations through the local Stock Exchange and the importance of the financing of a company's organic growth this way – stated Sinisa Krneta – the director of the Belgrade Stock Exchange.
A prospectus, the Belgrade Stock Exchange says, needs to contain all the necessary information about the company and the bonds it will issue, which will allow investors to make an objective assessment of all the aspects of the company's business and its potential for growth in the future and to make a qualified investment decision.
The prospectus is a document regulated by law and approved by the Securities Commission of the Republic of Serbia , based on which citizens and professional investors are enabled to make the decision as to whether they want to invest their money and thereby become co-owners of the company and take part in its business activities and results. Any investment in shares is tied to numerous risks, clearly stated in the prospectus, and it is up to the investors to estimate whether those risks are acceptable and to what extent, it is emphasized.
The first trading of Fintel Energija's shares at the local stock exchange is expected in November, after the subscription process is completed. The public offering will be considered successful if there are subscriptions for at least 1,500,000 new shares, the press release adds.
This is the first such financial operation at the Belgrade Stock Exchange after 78 years.
Fintel Energija emphasizes that professional investors, families and private investors can purchase the shares.
– We are offering shares and the possibility to invest in our company. A single share costs RSD 500 and our model entails the involvement of as many people as possible. We will not sell stakes, but gather capital from potential investors in order to keep investing in Serbia. We expect the gathered capital to amount to EUR 27 million, which we will invest in our projects in Serbia – the CEO of Fintel Energija, Tiziano Giovannetti, said and emphasized that Fintel Energija a.d. had invested EUR 150 million in wind farms in Serbia until then.