Purcari Wineries lists on the Bucharest Stock Exchange after a successful IPO
Purcari Wineries, a leading CEE wine producer, lists today on the Bucharest Stock Exchange, under the WINE symbol, following a successful IPO of 49 per cent of its shares. 2018-02-15 13:58:39
The offering was well received, with retail investors oversubscribing more than four times over, despite heavy turbulence on global markets, and the Dow recording the two largest point-drops on record. The final offer price was 19 RON per share, valuing the offering at over 186 million RON (50 million USD).
Purcari is led by Founder and CEO Victor Bostan, an oenologist by training with over 35 years of experience in the wine business, and backed by Horizon Capital, the leading private equity firm in Ukraine and Moldova, and the International Finance Corporation (IFC), a member of the World Bank Group.
Driven by robust consumer spending across CEE, Purcari has expanded revenues significantly at a CAGR of 34 per cent between 2014-2016, with the growth rate in Romania at 55 per cent, Poland at 49 per cent, Moldova at 44 per cent, and the Czech Republic and Slovakia at 15 per cent. The high level of growth sustained in 9M 2017, during which Purcari grew sales 35 per cent year-on-year, accelerating to 69 per cent growth in Romania.
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