Retail investors subscribe over 4 mln shares in Romanian MedLife IPO

Non-professional investors have submitted buying orders for some 4.26 million shares of MedLife, the biggest private healthcare operator in Romania, in the company’s initial public offering (IPO), reports local Ziarul Financiar. The value of the orders is over EUR 30 million, considering the subscription price of RON 35. “Overall, the oversubscription is 3.2 times on the retail tranche,” said Marius Pandele, an investment analyst at local brokerage firm Prime Transaction. The figures are not final, as the market will see new orders. The MedLife IPO started on December 7 and will end on December 15. Yesterday was the last day when investors benefited from a 5% discount to the final IPO price. MedLife sells its share at a maximum price of RON 35 (EUR 7.7) but the final offer price will be determined based on the orders received from institutional investors. Non-institutional investors who submitted their orders in the first days of the IPO will get a discount to the final price. Private equity fund Value4Capital and the International Financial Corporation (IFC) have put up for sale 8.8 million shares representing 44% of MedLife. Only 15% of those shares were allotted to the retail tranche and 85% of the offer is for institutional investors. editor@romania-insider.com