Electroalfa International initiaza oferta publica initiala pe 2 februarie

Electroalfa International anunta lansarea ofertei publice initiale pe data de 2 februarie

Electroalfa International, active in the field of equipment and infrastructure for electric power, has announced the publication of the prospectus for listing on the Bucharest Stock Exchange. The initial public offering (IPO) will run from February 2nd to 11th according to the documents approved by the Financial Supervisory Authority.

A Glimpse at the IPO Details

The offer targets the sale of up to 65.99 million new shares, representing approximately 35% of the company’s share capital after the capital increase. The price range is set between 8.35 and 8.85 lei per share, which implies a stock market evaluation of up to about 1.6–1.67 billion lei, post-IPO. At the maximum price, Electroalfa International could attract approximately 584 million lei. The funds will fully enter the company and will be used for investments, expanding production capacities, acquisitions, and general corporate expenses.

Allocation of Shares

The offer is structured with 90% of the shares allocated to institutional investors and 10% to retail investors, with the possibility of reallocating up to 5% between tranches, depending on demand. Retail investors benefit from a 5% discount on the final price in the first four days of subscription. The final price will be determined by the bookbuilding mechanism.

Listed Under Symbol EAI

The ASF authorized the offer by Decision No. 76 of January 28, 2026. The intermediaries are Swiss Capital and UniCredit, and the shares will be listed on the main market of BVB, under the symbol EAI. The offer also includes a price stabilization mechanism for a period of 30 days from listing.

What you need to know about Electroalfa

Electroalfa International is controlled by entrepreneur Gheorghe Ciubotaru (80%) and Electro-Alfa Management (20%). The existing shareholders have a lock-up period of 180 days, and the company is subject to a restriction of 365 days regarding the subsequent sale of shares.

Operational Scope

The company operates across the entire energy infrastructure chain, from the production of low and medium voltage electrical equipment to engineering, EPC and maintenance services, with customers from utilities, industry, and the public sector. Approximately 23% of revenues come from outside Romania.

2025 Estimates

For 2025, Electroalfa estimates revenues of approximately 827 million lei, an EBITDA of 113.5 million lei and a profit before tax of approximately 100 million lei.

Investment program funded by the IPO

The funds raised will support an investment program of approximately 103 million euros in the period 2026–2028, focused on expanding capabilities and strategic acquisitions in energy and infrastructure.

Electroalfa International announces the launch of the initial public offering on February 2nd, marking a major step into the public market. It remains to be seen how the market will react to this news and what the final IPO price will be.

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