Eastern European energy company EPIF plans IPO and London Stock Exchange listing

William Turvill
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Inside The London Stock Exchange
EPIF's global depository receipts will be admitted onto the London Stock Exchange under the plans (Source: Getty)

Czech investor EPH has announced plans to launch an initial public offering (IPO) and list its energy infrastructure utility EPIF on the London Stock Exchange.

Its primary stock market listing will be on the Prague Stock Exchange, while its global depository receipts (GDRs) will be admitted onto the UK market, under the plans.

It was first reported that JP Morgan and Citi were organising an IPO or minority stake sale of EPIF in November.

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Reuters reported that EPH, with assets of €10.26bn (£8.2bn) in 2014, was planning the float to raise capital for new investments in Eastern Europe.

EPIF reported earnings before interest, taxation, depreciation and amortisation (Ebitda) of €1.4bn in 2015.

EPH said it is “committed to remaining a long-term investor in EPIF” and intends to retain majority ownership in the group.

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Daniel Kretinsky, chairman of the supervisory board of EPIF, said: "In EPIF we have created a leader in energy infrastructure in Central Europe, bringing together some of the strongest EPH assets in one integrated group.

“With its key role in gas transport for European markets and its market-leading positions in the energy sectors of the Slovak Republic and Czech Republic, EPIF's aim is to generate strong and stable revenues in the coming years.

“As a founder of EPIF, my intention is to ensure attractive and sustainable dividend payments for all our shareholders, based on our high quality assets and the growing economies in the region "

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