Electro-Alfa International completes IPO early on the Bucharest Stock Exchange amid strong oversubscription

Romanian electrical equipment manufacturer Electro-Alfa International announced that it decided to complete its initial public offering (IPO) ahead of schedule, on 6 February 2026, after investor demand significantly exceeded the offer.

According to the company, both institutional and retail investors oversubscribed the IPO, with the retail tranche reaching an oversubscription level of approximately 5,800%. The IPO comprised 65,990,507 newly issued shares, representing around 35% of the company’s share capital following the increase. The offering was launched on 2 February and was initially scheduled to close on 11 February.

Settlement is expected to take place on 12 February, while the company’s shares are set to be admitted to trading on the Bucharest Stock Exchange around 3 March 2026 under the ticker EAI.

Electro-Alfa International plans to use the proceeds from the IPO primarily to expand production capacities, invest in technology and digitalisation, develop its product and service portfolio, and support international market expansion. Earlier, the company projected revenues exceeding 800 million lei and a gross profit of around 100 million lei by the end of the 2025 financial year. For 2024, it reported revenues of 648.4 million lei, EBITDA of 76.7 million lei, and net profit of 57.4 million lei.

Electro-Alfa International is a company with 100% Romanian capital and part of the Electro-Alfa Group, with 34 years of experience in medium- and low-voltage electrical equipment, EPC projects, and energy efficiency solutions. It operates four modern production facilities with a total area of 25,500 sqm, has its own R&D centre, and works with more than 500 clients nationally and internationally.

Comment by the Institute of Danube Research 
The early completion of Electro-Alfa International’s IPO due to exceptionally strong demand reflects growing investor confidence in Romania’s industrial sector and capital market. At a macro-regional level, this case highlights the increasing role of regional manufacturing companies in supporting the energy transition, infrastructure modernisation, and digital transformation across the Danube–Black Sea area. Such successful listings send a positive signal for attracting private capital into high value-added industrial and technological value chains, strengthening long-term economic resilience in the region.