Romania’s Electrica IPO to be promoted in largest European financial centers, overseas in New York and Boston

Romanian electricity distributor Electrica’s initial public offering (IPO) will be marketed in the largest financial centers in Europe, but also in the United States, sources close to the consortium which intermediates the offering told

The intermediaries of the IPO already started the road-show for promoting the offer with a meeting with Romanian institutional investors on Thursday (June 12) in Bucharest.

Next, they will go to the largest investment centers in Europe, such as London, Frankfurt and Vienna, but also across the ocean, to meet investors in New York and Boston. They will meet more than 100 international institutional investors, which include also investors which are not currently very active on the Romanian stock market, according to the same sources.

The Electrica IPO starts on Monday, June 16, and will end on June 25. The road-show and meetings with investors will spread for the whole duration of the offer period. Representatives of the company and of the privatization department in Romanias Energy Department will also attend these meetings with investors.

Electrica’s IPO is the largest ever in the history of the Romanian capital market, with a minimum size of EUR 435 million. The uniqueness of this offering comes from the fact that a majority 51 percent stake will be sold in this IPO. The offering will be held both on the Bucharest Stock Exchange (BVB) and the London Stock Exchange (LSE).

Citigroup Global Markets Limited, Raiffeisen Bank Romania and Société Générale Corporate & Investment Banking are acting as joint global coordinators and joint bookrunners for the offer. BRD-Groupe Société Générale (Romania) is local manager, while Swiss Capital, the largest Romanian brokerage house, acts as distribution agent.

Andrei Chirileasa, [email protected]

Romania Insider
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