Financial
June 30, 2014 13:29
The European Bank for Reconstruction and Development has invested over 320 million lei (some 75 million euro) for an 8.6 percent stake in Electrica, becoming the second largest shareholder of Romania’s electricity distribution company upon com...more »
June 27, 2014 15:37
Electrica announces a final offer price of 11 lei per share and 13.66 dollar per GDR (Global Depository Receipts), thus pricing its recently-closed initial public offering at low end of range. Romania’s leading distributor and supplier of electricity has succeeded to rise about 1.95 billion RON, making the IPO the biggest ever run on the Bucharest Stock Exchange....more »
June 26, 2014 15:41
Electrica has successfully carried out its initial public offering with an oversubscription of 200 percent, Razvan Nicolescu, the Minister Delegate for Energy, today announced during a press conference, according to Mediafax. He also said that the Selling Syndicate is considering the opportunity of redistributing part of the equities allocated to institutional investors towards retail investors so as to possibly supplement the share of 15 percent initially assigned to 20 percent of the 177.2 million equities available. These shares represent 105 percent of the shares in issue prior to the registration of capital increase and 51.2 percent of the shares in issue upon completion of capital increase, making the offering the biggest ever run on the Bucharest Stock Exchange....more »
June 24, 2014 14:21
Romania’s biggest initial public offering has been oversubscribed prior to the scheduled closing on June 25, according to Dana Mirela Ionescu, head of the Capital Markets Department within Raiffeisen Bank (one of the agents of the IPO), who was quoted by Bloomberg....more »
June 19, 2014 14:57
In the fifth day since its debut, the initial public offering of Electrica is going well, according to Razvan Nicolescu, the Minister Delegate for Energy, who expects the offering to get full subscription no later than Monday, 23 June....more »
June 18, 2014 16:17
Following approval of the World Bank's Board of Executive Directors earlier this year, Ioana-Maria Petrescu, the Minister of Public Finance, Liviu Voinea, the Minister Delegate for Budget and Elisabetta Capannelli, Country Manager at the World Bank’s Romanian Office concluded the agreement for two loans coming to 1 billion euro to be provided by the International Bank for Reconstruction and Development (IBRD). The amount is divided into a 750 million euro Development Policy Loan (DPL) and a 250 million euro financing destined to support the health sector reform project....more »
June 17, 2014 14:17
Fondul Proprietatea announced the agreement to sell an agreggate of 19,243,000 existing shares in Romgaz, company with a market cap of some 13.7 billion lei. The transaction follows an accelerated bookbuild offering of a 4.99 percent stake announced yesterday by the fund. ...more »
June 16, 2014 15:31
The International Finance Corporation, part of the World Bank Group, is lending 35 million euro to Garanti Bank, amount which will be allocated to finance small and medium-sized enterprises in Romania. Of the total amount, the bank announced that 20 million euro is destined to support enterprises in this categories run by female entrepreneurs....more »
June 16, 2014 10:32
Electrica launched the IPO for 51 percent of its share capital, the largest initial public offering ever on the Bucharest Stock Exchange which is being run between June 16 and June 25, 2014....more »
June 13, 2014 14:33
The expected decrease by 5 percent of the social insurance contribution (CAS) will be eventually effective starting October 1, five months later than the initial target, Victor Ponta yesterday announced, also mentioning that the IMF and the EU Commission have not agreed with this fiscal measure....more »
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