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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

Romania’s Fondul Proprietatea cashes in EUR 115 mln from OMV Petrom sale

Fondul Proprietatea (FP), the biggest investment fund in Romania, completed on Wednesday, September 16, the sale of a 3% stake in oil and gas group OMV Petrom (SNP). The fund sold 1.7 billion OMV Petrom shares representing 3% of the company’s capital, through an accelerated bookbuild offering.

The transaction closed at a price of RON 0.33 per share, 11% under the price at which the SNP shares were trading on Tuesday, before Fondul Proprietatea announced its intention to sell. The fund initially announced it wanted to sell at least 1.4 billion shares, but increased the amount based on the orders received from investors.

Following this transaction, Fondul Proprietatea reduced its stake in OMV Petrom to under 7%. Since 2013, the fund has sold about 13% of OMV Petrom’s shares through similar accelerated bookbuild offerings.

Citigroup Global Markets Limited and WOOD & Company Financial Services acted as joint bookrunners for the transaction.

[email protected]

(Photo source: Dreamstime.com)

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

Romania’s Fondul Proprietatea cashes in EUR 115 mln from OMV Petrom sale

Fondul Proprietatea (FP), the biggest investment fund in Romania, completed on Wednesday, September 16, the sale of a 3% stake in oil and gas group OMV Petrom (SNP). The fund sold 1.7 billion OMV Petrom shares representing 3% of the company’s capital, through an accelerated bookbuild offering.

The transaction closed at a price of RON 0.33 per share, 11% under the price at which the SNP shares were trading on Tuesday, before Fondul Proprietatea announced its intention to sell. The fund initially announced it wanted to sell at least 1.4 billion shares, but increased the amount based on the orders received from investors.

Following this transaction, Fondul Proprietatea reduced its stake in OMV Petrom to under 7%. Since 2013, the fund has sold about 13% of OMV Petrom’s shares through similar accelerated bookbuild offerings.

Citigroup Global Markets Limited and WOOD & Company Financial Services acted as joint bookrunners for the transaction.

[email protected]

(Photo source: Dreamstime.com)

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