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JT Grup Oil gets 20 mln. lei through its IPO

12 June 2024

JT Grup Oil, a company active in the fuel distribution market and the sole shareholder of JT Terminal, the newest private terminal for petroleum products in Romania, announces the successful closing of the initial public offering. The fuel supplier ran, between May 28 and June 10, an IPO through which it attracted 20 million lei. During the offer period, 2,163 investors subscribed 3,632,272 shares of the issuer JT Grup Oil S.A., so that the offer was successfully concluded in accordance with the provisions of the prospectus.

“We welcome the interest and support we received from investors during the IPO. It was an intense and challenging period, but the enthusiasm and confidence shown by investors showed us that we are on the right track. We will continue to expand our operations by maintaining a strong commitment to partners and investors. Their trust motivates us to invest in advanced technologies and sustainable solutions, which will strengthen our position in the energy sector,” says Bogdan Aldea, Chairman of the Board of Directors and CEO of JT Grup Oil.

The money raised following the financing will remain in the company and will be allocated to the development and consolidation of business lines, from increasing the volumes of fuel traded on the local market to opening fuel stations in commercial centers, intended for individuals, as well as the completion and JT terminal operation.

“At this moment, we are waiting for the issuance of the share registration certificate, and as soon as possible we will submit the necessary documentation to the BVB to establish the first trading day of the shares on the AeRo market. We further assure the investors that JT Grup Oil has ambitious plans for the next period and we invite them on this path to join us and contribute to the development of our company. We will invest in the most modern technologies to ensure the sustainable development of the company, and listing on the stock market will strengthen our position as leaders in the field and increase the degree of trust of partners and investors, ensuring transparent communication with all parties involved,” adds Steluța Lebidov, CFO JT Grup Oil.

With a turnover of 224.4 million lei and a net profit of 5.7 million lei recorded in fiscal year 2023, JT Grup Oil owns 250 B2B premises stations, equipped with modern monitoring and control technologies, which allow efficient management of stocks and operations, but also a fleet of 11 tankers, equipped with pumps and indicators to measure the quantity delivered.

In the coming years, thanks to its own terminal, JT Grup Oil will stand out in the market through the competitiveness of prices, the efficiency of loading, unloading and delivery times. The storage and distribution capacities will ensure the permanent rotation of stocks, without the accumulation of a large amount of fuels, reducing the financial risk. Thus, JT Terminal will allow the company to deliver daily 1 million liters of fuels, the amount that the company currently sells annually, at a cost of approximately 22 dollars/ton. The significant cost reduction, together with the expansion of storage and distribution capacities, will generate an increase in profitability and strengthen JT Grup Oil’s position on the regional market.

The estimated date for the listing of JT Grup Oil on the AeRO market of the Bucharest Stock Exchange is the end of June, and the shares will be able to be traded under the symbol JTG.



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