- Aquila went public on the Bucharest Stock Exchange following the largest Initial Public Offering on the local capital market, worth RON 367 mn.
- It is the 20th listing of a Romanian entrepreneurial company that takes place this year on the Bucharest Stock Exchange, on both markets, implicitly the third on the Main Market.
Aquila, the largest player on the consumer goods distribution market with over 26 years of experience, started trading on the Main Market of the Bucharest Stock Exchange under the ticker AQ. The listing took place after the successful conclusion of an Initial Public Offering (IPO) worth RON 367 mn (EUR 74 mn), the largest IPO conducted so far by an entrepreneurial company on the Romanian capital market. Aquila is the 20th company listed on the Stock Exchange this year, respectively the third on the Main Market.
‘The listing trend on the Bucharest Stock Exchange registered this year continues, even at the end of the year. Today we mark the listing of Aquila, a solid company in an essential field of activity for each of us. Aquila brings with it, on the one hand, the option of diversifying the portfolio for investors. On the other hand, it marks the largest Initial Public Offering of a private company on the Romanian capital market. We are glad that the funds raised from investors within the IPO will go towards supporting the development of the company and we are proud that Aquila is among the top companies, listed on the Romanian Stock Exchange’, said Adrian Tanase, Bucharest Stock Exchange CEO.
‘We are proud to join today the most important companies listed on the Bucharest Stock Exchange. This important step is the next chapter of our development. From the leading position of the distribution market, we want to make an intelligent use of the opportunities given by the market, so the revenues obtained from the IPO will be used for growth, consolidation and digitalization. Thus, we will be able to increase the quality of services offered to customers, increase the volume and range of products distributed, thus bringing value to our shareholders. Our development strategy incorporates sustainability requirements and recommendations and allows us to adapt our business model to an evolving environment’, said Jean Dumitrescu, IR Director, Aquila.
Aquila conducted the Initial Public Offering for the share capital increase between 8 and 16 of November through which it sold 66,666,800 new shares at a price of RON 5.5 per share, both to institutional and retail investors. The company will use most of the funds to purchase companies that own major brands in the consumer goods market and distribution companies with complementary product portfolios. Also, a part of the funds will ensure working capital, digitalization of operations, increase traceability and productivity and development of own brands. The offer was brokered by Swiss Capital, and BRK Financial Group and TradeVille were distribution agents.
‘With the listing of Aquila, the portfolio of economic sectors on the Bucharest Stock Exchange is expanded with the consumer goods sector, a sector that may offer investment opportunities in the context of the current pandemic. Through the success of the primary public offering of Aquila, a market leader in the segment of distribution of consumer goods, we hope to draw the attention of other local entrepreneurs on the alternative of financing and developing their own businesses with the help of the local capital market’, said Olimpiu Blajut, Deputy CEO, Swiss Capital.
Aquila was established in November 1994 as an entity specialized in integrated services of distribution of consumer goods and logistics. Since 2001, the company expands in the Republic of Moldova by setting up the distribution company Trigor AVD. Aquila is currently the market leader in the field of consumer goods distribution, having 14 distribution centers, 4 logistics centers, the largest distribution fleet in Romania – 1,647 vehicles, a network of 67,000 points of sale, a storage infrastructure of 120,000 sqm and a team of 3,000 employees.
The company offers distribution services both in the area of traditional retail (wholesale, local trade, pharmacies and pharmacy networks), for hypermarkets and gas station chains, as well as HORECA. Aquila also provides logistics services and international transport of goods with European coverage. The company has developed and sells its own products such as frozen vegetables and meats, semi-prepared and fish products. The Aquila team is considering continuing the development process of its own brands, also entering the area of processed fruits or healthy food.
The company recorded in 2020 a turnover of RON 1.8 bn, an increase of 6% compared to 2019. In June 2021, Aquila recorded revenues of RON 901 mn, an increase of 15% compared to S1 2020. The profit of 2020 is almost RO 58.4 mn, up by 171% compared to 2019. Following the IPO, two of the shareholders hold the quality of significant shareholder, namely Constantin-Catalin Vasile and Alin-Adrian Dociu with 33.3% of the share capital each.