Christian Tour, the largest travel agency in Romania, has announced its intention to conduct an Initial Public Offering (IPO) and list its shares on the Regulated Market of the Bucharest Stock Exchange (BVB). The company, founded in 1997 and led by Cristian Pandel, aims to become the first tour operator listed on the local capital market, with the operation scheduled for the second quarter of 2026.<\/p>\n
According to information from News.ro, the offering will include both newly issued shares through a share capital increase and existing shares sold by the majority shareholder. The process is subject to the approval of the prospectus by the Financial Supervisory Authority (ASF), estimated for the first half of May, at which point the stock symbol and the exact volume of traded shares will be communicated. The transaction intermediary is BT Capital Partners. The funds raised will be used for digitalization, transforming the company into an Online Travel Agency (OTA) platform, operational expansion, and potential strategic acquisitions.<\/p>\n
Financial results for 2025 indicate a net profit of approximately EUR 6.26 million, up from the EUR 5.14 million recorded in 2024. The company reported total sales at the time of booking of EUR 192.79 million in 2025, while revenues according to IFRS standards amounted to EUR 158.27 million. The adjusted EBITDA reached EUR 8.71 million in 2025, compared to EUR 6.24 million in 2024 and EUR 5.96 million in 2023. The gross margin rose to EUR 18.49 million last year.<\/p>\n
Operationally, Christian Tour served approximately 369,000 tourists in 2025, compared to 353,000 in 2024. The average revenue per booking rose to EUR 1,439, from EUR 1,327 in the previous year. The main segment, tour packages, generated 65% of sales. The market context remains favorable, with Eurostat data indicating that Romania had the fastest growth rate in the number of travelers in the EU in 2024 (30%). Additionally, according to the BNR (National Bank of Romania), Romanians’ spending abroad reached EUR 9.5 billion in 2025, 7% more than the EUR 8.9 billion reported in 2024.<\/p>\n
When is Christian Tour planning to list on the Bucharest Stock Exchange?<\/strong><\/p>\n The company plans to launch its Initial Public Offering (IPO) and list on the BVB in the second quarter of 2026.<\/p>\n How will the capital raised from the IPO be utilized?<\/strong><\/p>\n The funds will be used for digitalization, transforming the agency into an Online Travel Agency (OTA) platform, and supporting strategic acquisitions.<\/p>\n What were the company’s key financial highlights for 2025?<\/strong><\/p>\n In 2025, Christian Tour reported a net profit of approximately EUR 6.26 million and total sales of EUR 192.79 million, serving 369,000 tourists.<\/p>\n","protected":false},"excerpt":{"rendered":" Christian Tour, the largest travel agency in Romania, has announced its intention to conduct an Initial Public Offering (IPO) and list its shares on the Regulated Market of the Bucharest Stock Exchange (BVB). The company, founded in 1997 and led by Cristian Pandel, aims to become the first tour operator listed on the local capital…<\/p>\n","protected":false},"author":0,"featured_media":125428,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2858],"tags":[5426],"thb-sponsors":[],"class_list":["post-125479","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tourism","tag-christian-tour"],"article_style_override":"on","post-style":"style2","post_via":[{"title":"libertatea.ro | 16.04","post_source_url":"https:\/\/www.libertatea.ro"}],"post-top-image":"https:\/\/rhn.ro\/wp-content\/uploads\/2019\/11\/turism-2.jpg","_links":{"self":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/125479","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/comments?post=125479"}],"version-history":[{"count":0,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/125479\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media\/125428"}],"wp:attachment":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media?parent=125479"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/categories?post=125479"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/tags?post=125479"},{"taxonomy":"thb-sponsors","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/thb-sponsors?post=125479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}