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Aquila lists on BVB after closing largest IPO on the Romanian capital market

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The Bucharest Stock Exchange (BVB) announced on Monday that the Romanian consumer goods and logistics distribution company, Aquila started trading on BVB, following the largest Initial Public Offering (IPO) on the local capital market worth RON 367 mln.

The company’s shares are traded under the AQ ticker.

“Aquila is the 20th company listed on the Stock Exchange this year respectively the third on the Main Market,” said BVB, according to a press release.

Aquila sold 66,666,800 new shares at a price of RON 5.5 per share to institutional and retail investors during the IPO which took place during 8-16 November.

The company will use most of the funds to purchase companies that own major brands in the consumer goods market and distribution companies with complementary product portfolios. Part of the funds will ensure working capital, digitalization of operations, increase traceability and productivity and development of own brands.

The offer was brokered by Swiss Capital, and BRK Financial Group and TradeVille were distribution agents.

The company recorded in 2020 a turnover of RON 1.8 bln, an increase of 6% compared to 2019. In June 2021, Aquila recorded revenues of RON 901 mln, an increase of 15% compared to S1 2020. The profit of 2020 is almost RON 58.4 mln, up by 171% compared to 2019.