EBRD becomes second largest shareholder in Romania's Electrica after EUR 75 mln investment in IPO

The European Bank for Reconstruction and Development EBRD has become the second-largest shareholder in Romanian electricity distributor Electrica after it invested EUR 75 million in Electrica’s IPO, according to Energy Minister Razvan Nicolescu. ING is the third largest shareholder in the Romanian company. “After the state, EBRD is the second largest shareholder of Electrica, with EUR 75 million, while the third is ING, which participated via several entities,” said Nicolescu, reports local news agency Mediafax. The Electrica IPO closed last week, on June 25. One fifth of Romania’s Electrica IPO will be allotted to GDRs traded in London, demand for shares was higher. Irina Popescu, irina.popescu@romania-insider.com