Fintel Energija plans to enter the Belgrade Stock Exchange this May and realize
the first IPO (initial public offering) in Serbia after 78 years. CEO of
Fintel Energia SpA and Fintel Energija, Tiziano Giovannetti said at the conference dedicated to the presentation of the “
Serbia IPO Go” project, held on March 27, that the necessary procedure would be completed in April and that 15% to 20% of the shares would be offered.
– There are many interested parties and we are more than sure that this will be a successful process – Giovannetti said and added that the collected money would be invested in projects in Serbia.
Let us remind that Fintel Energija previously announced that it intended to collect around EUR 15 million through the IPO in order to use the money for the
construction of the Kosava wind farm, with a capacity of 117 MW, as well as of other developing projects.
– In the past three years alone, we have invested more than EUR 150 million in Serbia. Today, we are the second biggest producer of green energy in the country, after EPS, as well as the market leader among private independent producers of electricity – he said and added that the company had projects in various stages of completion – from development to construction, with 400 MW of power.
Giovanni sees the decision to enter the Belgrade Stock Exchange as logical, because, as he says, his company realizes its biggest projects in Serbia, so it makes the most sense for it to seek new capital in the local market for further investments.
– Fintel Energia Group, which I founded over 20 years ago, has been listed on the Milan Stock Exchange, part of the London Stock Exchange, as a public trade company since 2010 – he added at the presentation of the “Serbia IPO Go” project, which aims to create new opportunities for the growth of the Serbian economy by activating the capital market.
The Belgrade Stock Exchange is carrying out the project in cooperation with the European Bank for Reconstruction and Development (EBRD) and the consulting company PwC.
– We have seen that there are more and more local companies who would like to replace banking credits with another way of financing growth and development. For this reason, in cooperation with the EBRD, we have created a project which would bring Serbian companies closer to the opportunity to finance their growth with the capital they can gather by being listed on the stock exchange. Over the next year, we aim to attract successful private companies to make a decision on entering the Belgrade Stock Exchange – the director of the Belgrade Stock Exchange, Sinisa Krneta, said and added that the plan was to have at least three IPOs in the next 12 months.