Via this IPO, the company’s majority shareholder, the Ministry for Economy through the Department for Energy, sells 177,188,744 shares in the form of Offer Shares and Offer GDRs, representing 105% of the shares in issue before the registration of capital increase and 51.2% of the shares in issue following the registration of capital increase; one GDR represents 4 Shares.
The offer is structured on three tranches: small retail tranche, large retail tranche and institutional investors tranche. Each tranche’s basic characteristics are presented in the table below.
Capital (as distribution group), as well as Citigroup Global Markets Limited, Raiffeisen Bank SA and Societe Generale Corporate and Investment Banking (as joint global coordinators and joint bookrunners).
BVB makes available for public a dedicated page for Electrica IPO (http://bvb.ro/GovRomaniaIPO_EL.aspx) with information on the offer, the prospectus and other related documents, as well as the list of participants through which retail investors can subscribe to the offer.
Ludwik Sobolewski, BVB CEO, said: "The IPO of Electrica has a chance to be one of the most valuable events on the capital markets of Central and Eastern Europe in 2014. Romania continues its way to a fully fledged capital market's infrastructure, with the reform of regulations and market practices ongoing. Capital market is an essential part of the national economy and privatization processes conducted through the Bucharest Stock Exchange, thus improving the prospects of Romania for becoming one of the leaders of growth in our region."
