The public offer through which Romanian investment fund Fondul Proprietatea will repurchase 150 million own shares was 31 times oversubscribed.
Investors placed orders to sell 4.6 billion shares. The offer price is RON 1.21 per share, which is 11% higher than the current share price on the Bucharest Stock Exchange, which explains the high interest.
The fund will pay RON 181.5 million (EUR 38.5 million) to investors, who will get proportional sums to the number of subscribed shares.
The allocation ratio is 0.0321, which means that investors will get to sell only 3.21% of the shares subscribed in the offer. The money will reach their accounts on August 22.
The buyback offer was intermediated by Auberach Grayson and BCR.
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