The European Bank for Reconstruction and Development (EBRD) participated in the initial public offering (IPO) recently concluded by Electroalfa International (EAI), the Romanian leader in advanced electrical engineering solutions for critical infrastructure, subscribing 16.4 million euros, equivalent to a 5% stake in the company's share capital. The IPO brought 114.7 million euros and put 35% of the company's capital on the market, marking one of the most important recent listings in Romania, with the expectation of including the titles in the BET index, EBRD representatives write in a statement. The funds will be used to expand production capacities, purchases and for research and development activities, of which 10 million euros will be dedicated specifically to technological innovation. «Our investment in Electroalfa reflects the EBRD's commitment to support the Romanian capital market and local quality companies», says Frederic Lucenet, EBRD's global director for production and services. Electroalfa offer: Half of the 5,200 retail orders were below 1,000 lei, another 20% between 1,000 and 10,000 lei. There were also subscriptions of 50-60 million lei, in the end being orders of 1.4 million lei due to the agglomeration. On the institutional side, the ten largest orders, between 13 million lei and 84 million lei. Who could be the big ones Victoria Zinchuk, head of EBRD Romania, adds that «by supporting the company's development and research plans, we accelerate technological progress and competitiveness, strengthening our role as a long-term partner of Romanian industry». Following the IPO, founder Gheorghe Ciubotaru maintains control over the company, which operates four modern factories in Botoşani, its own research and development center and nine offices nationwide, with approximately 500 employees, including 60 specialized engineers. The EBRD investment supports both internal development and acquisitions aimed at expanding the company's technological capacity and operational scale, while also contributing to the modernization of critical infrastructure and the strengthening of corporate governance standards, the release states. The final price of the offer was 8.85 lei per share, and retail investors who subscribed in the first four days benefited from 8.4075 lei per share. Of the total of 65.99 million new shares, 56.1 million were allocated to institutional investors and 9.9 million to retail, after the reallocation of 5% of the institutional tranche. The retail tranche was oversubscribed almost 39 times, and the initial demand exceeded the available offer more than twice. For 2025, Electroalfa estimates revenues of 827 million lei, EBITDA of 113 million and net profit of approximately 84 million lei.
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