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 on the AeRO market of the Bucharest Stock Exchange (BVB), under the stock ticker JTG.

The listing of the company takes place after an IPO, the third held on the AeRO market, after which the company managed to attract RON 19.9 million from investors. The anticipated market capitalization of the company is RON 186.1 million.

‘A new company is walking today on the local capital market stage, being the fourth listing since the beginning of this year. 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 their business development. Being a listed company brings many opportunities, each new issuer having the chance to take advantage of them and provide an example of good practice, including through fair and transparent communication with investors’, said Radu Hanga, Bucharest Stock Exchange President.

‘Our journey began in 2001, when we established JT Grup Oil with the ambition to become a major player in the Romanian energy industry. Today’s 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 determination and perseverance, delivering quality products as well as covering the fuel shortage in Romania. Our listing on the AeRO market is a significant milestone both for JT Grup Oil and for the investors who believed in the vision and potential of our company. It has been a challenging period, which required endurance and intensive work, but thanks to our dedicated team and the constant support received from our investors, we have once again proven that tenacity and teamwork represent the success key’, said Bogdan Aldea, Chairman of the Board of Directors and CEO of JT Grup Oil.

‘More than two decades ago, we set out to transform JT Grup Oil into a benchmark company in the energy industry. Today, the listing on the Bucharest Stock Exchange is the recognition of our efforts and achievements. By accessing 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 operating model, and the investment in JT Terminal, our own Black Sea terminal, will provide the necessary infrastructure to achieve our strategic objectives. Our openness to investors reflects our confidence in the company’s potential and our commitment to transparency, corporate governance and strong financial results’, points out Steluța Lebidov, CFO, JT Gup Oil.

Jean Paul Tucan, the Majority Shareholder of JT Grup Oil, added: ‘We are extremely thrilled to officially announce our listing on the AeRO market of the Bucharest Stock Exchange. Today is a historic milestone for our company, a new chapter in the story of JT Grup Oil’s development. Trading the shares is a validation of our vision and hard work and we are glad to see that this once small company has grown and developed, becoming an example of success. We will continue to capitalize on the market potential and deliver strong returns for all our investors, while 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 oil products.’

The IPO carried out this year by JT Grup Oil, between May 28 and June 10, was realized with the support of Interdealer Capital Invest and was subscribed by 36,32%. During the offer period, investors made 2,163 subscriptions for 3,632,272 shares. The price for a share was RON 6.5, and for subscriptions made in the first 5 working days of the offer period, the price was RON 5.46 per share.

‘The IPO of JT Grup Oil, brokered by Interdealer Capital Invest, was mainly addressed to Romanian retail investors and Romanian capital. The main objective of the public offer was to attract as many retail investors as possible (over 1,000) to ensure good liquidity at the time of trading of the shares, an objective which was not only achieved, but far exceeded the expectations of the issuer, with over 2,000 investors subscribing to the offer. The second objective, attracting capital market financing of approximately RON 54 million, was partially met, the amount attracted from investors being approximately RON 20 million, a situation that gives us the possibility to use other capital market operations in the future to cover the estimated financing needs, in accordance with the group’s development plans. JT Grup Oil aims to be an active issuer on the AeRO market, which plans to use various financial instruments and operations offered by the capital market, thus contributing to the development of this market’, 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-East 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.