After more than 6 years, a company goes public for the first time

After more than 6 years, a company goes public for the first time

February 22, 2024 – 17:09

This is Distribuidora de Gas del Centro that goes public with 5% of its shares, expandable up to 10%.

After more than 6 years, a company goes public for the first time

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It took more than six years for A company decided to go public with an IPO (Initial Public Offering) issue.. In this case, the company in question is Distribuidora de Gas del Centro, which goes public with 5% of its shares, expandable up to 10%. The organizers and placement agents are Banco Valores, Puente and Balanz.

The initial public offering of the DGCE Class B Shares will end on February 29, 2024 at 4 p.m.has an indicative price of 1000-1300 (VL 349.28) and the ticker on BYMA will be $DGCE. The main shareholders are the businessmen Ronaldo Strazzolini, Guillermo Pablo Reca and Gonzalo Péres Moore.

“With an extensive 21,321km distribution network which covers the provinces of Córdoba, La Rioja and Catamarca, serves a broad base of end users, reaching 796,730 homes and delivers an annual gas volume of 1,972 MMm. The company distributes 6.7% of the total gas in Argentina,” he said. Balanz in his report.

“The company proves to be an efficient operator with experienced management serving a region with strong growth prospects, a solid financial track record and is in a privileged position to take advantage of the market’s growth potential,” explained Juan Barros Moss, IB & Corporate Manager of Balanz.

The offer is aimed at the general investing publicmainly to institutional investors and individual shareholders.

“DGCE has great expectations of correction of the existing tariff arrears and at the same time it operates within the energy sector, which is in a positive context with an increase in local production of natural gas from Vaca Muerta, as well as the construction of new gas pipelines that allow its transportation, releasing restrictions from past years. Besides, its strong financial position and focus on sustainable growth make it an attractive option for investors,” commented Natalia Rivero, the company’s Finance Director.

It will be necessary to see if this time Distribuidora de Gas del Centro is luckier than in 2018 when it made a first attempt but ultimately could not complete it.

Distribuidora de Gas del Centro SA together with Distribuidora de Gas Cuyana SA make up Ecogasa company dedicated to the distribution of natural gas service in the provinces of Córdoba, Mendoza, San Juan, San Luis, Catamarca and La Rioja.

The The last IPO that landed in the local market was that of Laboratorios Richmond in December 2017. Since then, no company announced its opening in BYMA.

Source: Ambito

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