Romania starts public offering for 15% in Translectrica at some EUR 3.4 per share

Investors will be able to buy up to 15 percent of electricity network operator Transelectrica on the Bucharest Stock Exchange during the Secondary Public Offering at a minimum price of RON 14.9 per share ( or some EUR 3.4 ), which is below the closing price on the BSE yesterday ( March 12 ). The maximum price per share was set at RON 19.2 per share, approved by the Government earlier today ( March 13 ). Within this offer, the state could cash in between EUR 37.5 million and EUR 48.3 million.

The public offering will start on March 14 and end on March 27. BCR, SSIF Intercapital Invest and SSIF SWISS Capital will intermediate the offer. In order for the offer to be successful, a minimum of 70 percent of the shares need to be subscribed. Transelectrica is already listed on the Bucharest Stock Exchange, under symbol TEL, with the latest price at RON 17 per share. editor@romania-insider.com