Electro-Alfa plans IPO on BVB

Business Forum
Electro-Alfa International, a Romanian electrical equipment manufacturer, has announced plans for an Initial Public Offering (IPO) on the Bucharest Stock Exchange (BVB).

The company intends to issue up to 65.9 million new shares, representing approximately 35% of total shares, pending approval from the Financial Supervisory Authority (ASF). SSIF Swiss Capital and UniCredit Bank will serve as transaction intermediaries.

"The listing marks a new stage in the company's evolution and confirms the maturity of our business model," stated Gheorghe Ciubotaru, Founder and Chairman of the Board. "Listing will allow us to accelerate investments, strengthen our presence in foreign markets, and continue our development for the benefit of our clients, employees, and future investors."

Electro-Alfa International holds an estimated 32.49% market share in Romania's electrical equipment sector as of 2024, ranking among the top three manufacturers. The company operates an integrated model covering design, production, installation, commissioning, and maintenance across low and medium voltage electrical equipment and complex EPC projects. It runs four production facilities in Botoșani spanning over 25,000 sqm.

The company recorded revenues of RON 648.4 million (€130 million) in 2024, compared to RON 435.8 million (€87 million) in 2023 and RON 259.2 million (€52 million) in 2022, representing a compound annual growth rate of 58.2%. Net profit reached RON 57.4 million (€11.55 million) in 2024, while EBITDA increased to RON 76.7 million (€15.4 million) from RON 51.6 million in 2023. For 2025, the company estimates revenues exceeding RON 800 million (€161 million) and EBITDA above RON 100 million (€20 million).

The offering will distribute shares to both institutional and retail investors. Ciubotaru currently owns 80% of the company, with Electro-Alfa Management holding the remaining 20%. Full offering details will be published following prospectus approval.

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Business Forum  |  3 March, 2026 at 10:55 AM
Business Forum  |  2 March, 2026 at 5:07 PM