Christian Tour announced its intention to launch an initial public offering (IPO) and list its shares on the regulated market of the Bucharest Stock Exchange (BVB). The move would make it the first pure-play tour operator listed on Romania’s capital market, offering investors direct exposure to the tourism sector.
The planned IPO will include both newly issued shares, aimed at supporting the company’s development and investment plans, and a sale of existing shares by the current majority shareholder.
The offering will target retail investors in Romania and institutional investors abroad, subject to approval of the prospectus by the Financial Supervisory Authority.
Founded in 1997, Christian Tour has evolved from a small entrepreneurial agency into one of the country’s leading tourism operators. The company now runs an integrated platform focused primarily on outbound tourism, offering charter holidays, travel circuits, city breaks, and group travel services to destinations worldwide, while also promoting Romania as a destination for foreign visitors.
“We believe this is the right moment both for Christian Tours’ next stage of development and for strengthening the Romanian capital market. Through this listing, we aim to build a strong tourism company with local roots, supported by domestic capital and investors who believe in the sector’s long-term potential. Our ambition is to develop Christian Tour as a leading Romanian tourism player with the scale, capabilities, and performance to compete in an increasingly dynamic international industry,” said Cristian Pandel, Founder and CEO of Christian Tour.
The IPO, expected in the second quarter of 2026, depending on market conditions, will be intermediated by BT Capital Partners.
In 2025, the company reported booking-date sales of approximately RON 983 million, revenues of over RON 800 million, and an adjusted EBITDA of around RON 44 million. The number of travelers served has grown steadily in recent years, reaching nearly 369,000 in 2025, reflecting rising demand for organized travel among Romanian consumers.
irina.marica@romania-insider.com
(Photo source: the company)
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