Evropeiskaya Elektrotechnica Joins the Stock Exchange
Evropeiskaya Elektrotechnica Joins the Stock Exchange
PJSC Evropeiskaya Elektrotechnica, one of the leading companies that provide comprehensive engineering services for the creation of electric power supply systems, energy saving, and electric lighting systems at industrial facilities, has signed a listing agreement with the Moscow stock exchange. Shares of PJSC Evropeiskaya Elektrotechnica were admitted to trading and included in the Level 3 list of securities on August 7, 2017. The attracted funds will be used to implement the company's 5-year strategy, including development of a network of engineering centers and purchase of production assets.
RAEX independent agency rated PJSC Evropeiskaya Elektrotechnica at the ruB level; the forecast is stable. Analysts point out the high level of the company s forecasted liquidity. The company's wide geographical footprint, high sales diversification, and moderately low dependency on counterparties are the key factors that contributed positively to the rating score. PJSC Evropeiskaya Elektrotechnica s diversified contract base is oriented toward large participants of the mining industry and the power sector.
MZ LLC (Conomy.ru) conducted an independent evaluation of the company's business value. The issuer's fair value was estimated based on the provided published and internal documentation. PJSC Evropeiskaya Elektrotechnica s fair value amounted to RUB 6.8 billion total, or RUB 11.04 per share. According to analysts, Evropeiskaya Elektrotechnica is developing intensively, as reflected by the growth in its financial indicators over recent years. The company has an advantage over its Russian counterparts due to its large order portfolio, which ensures stable work and high financial results, and practically the total absence of debt loads.
PJSC Evropeiskaya Elektrotechnica is planning to start trading on MICEX at the beginning of September. The organizer of the share placement is IT Invest, the underwriter. 16% of shares will be placed on the market. The company's dividend policy assumes payment of dividends of more than 20% of net profit under the International Financial Reporting Standards.
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