Grup EM to list shares on Bucharest Exchange after undersubscribed IPO
The initial public offering (IPO) of Grup EM, the Romanian energy group that includes Electromontaj and Iproeb among other companies, closed on October 16 at 12:00 after two weeks of subscriptions, raising EUR 4.85 million for the 725.476…
iulian ernst · Journalist
· Updated · 2 min read
The initial public offering (IPO) of Grup EM, the Romanian energy group that includes Electromontaj and Iproeb among other companies, closed on October 16 at 12:00 after two weeks of subscriptions, raising EUR 4.85 million for the 725.476 shares - the equivalent to 38% of the total number of shares offered under the IPO, for the price of RON 34 per share according to data from TradeVille, the offer’s intermediary.
The company is expected to begin trading on the Bucharest Stock Exchange in early November. Following the listing, the estimated free float will be around 10%.
