Romanian Nuclearelectrica’s initial public offering set to start this month

Romania’s electricity producer Nuclearelectrica could attract net funds of up to EUR 83.5 million (RON 369 million) during its initial public offering on September 9, according to data recently released by the Financial Supervisory Authority.

The figure is based on the offer’s price if all shares are sold during the company’s initial public offering of 10 percent.

Investors may subscribe for Nuclearelectrica securities between September 9 and September 20, 2013. Within the offer, Nuclearelectrica wants to sell a total of 25.3 million shares, representing 10 percent of the company’s share capital. The selling price will be between RON 11.2 and RON 15 per share.

The Underwriting Syndicate for the company’s listing is composed of Swiss Capital and BT Securities.

The offer will be considered successfully terminated if all the shares are sold and the company is listed.

Earlier this year, the Romanian Government approved the conditions for selling a 10 percent share in Nuclearelectrica on the stock exchange, through a capital increase.

At that moment, the Minister Delegate for Energy, Constantin Niţă, said the government hopes to get between EUR 66 million and EUR 78 million (RON 300 – 350 million) via the offer.

Nuclearelectrica runs the Cernavoda nuclear power plant, which produces around 20 percent of Romania’s energy.

The Romanian state is the major shareholder of the company with 90.28 percent of the shares, while Fondul Proprietatea holds the rest of 9.72 percent.

Earlier this year, the Romanian state sold the 15 percent share package in Transgaz, for EUR 72 million, during a secondary public offering.

Irina Popescu, [email protected]



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