Romania’s Digi has announced plans to launch an IPO on the Bucharest Stock Exchange in May.
The offer will be of class B ordinary shares to the public, in Romania, and qualified international institutions and professional investors.
Commenting on the development, Serghei Bulgac, CEO of RCS&RDS, the group’s largest operating company, and future CEO of Digi, said: “Today marks a historic moment for Digi Communications and the wider Romanian economy. As one of the leading providers of telecommunications services in Romania and Hungary, our intention to float on the Bucharest Stock Exchange is an exciting opportunity for the Romanian public and would be a proud achievement for us. By investing in Digi, investors gain access to an attractive industry leader, with stable structural growth. Investors will benefit from our management team’s expertise and brand recognition in our chosen markets and customer segments. The Board is proud to support this stage of our development and looks forward to working with future shareholders as a publicly listed company.”
Digi is the leading provider of pay-TV services in Romania, with a 49% market share in terms of RGUs. It is also the third largest in Hungary, with a market share of around 25%.
The company, which offers five core services – cable TV, fixed internet and data, mobile telecommunication services, fixed-line telephony and DTH TV – and also operates as an MVNO in Spain and Italy – had revenues of €842.8 million and adjusted EBITDA of €263.3 million in 2016.
