Fondul Proprietatea (FP) has completed the bookbuilding process for private placement on the Bucharest Stock Exchange, announced on July 8, 2014, of all securities held in Transelectrica. According to an informing from Franklin Templeton, the fund’s manager, the final number of offered shares is 9,895,212, equivalent to a 13.5 stake, valued at 21.5 lei each (approximately 4.88 euro per share)....more »

Franklin Templeton, the manager of Fondul Proprietatea (FP) has announced its intention to sell up to 9,895,212 of shares, equivalent to the 13.5 percent stake currently owns in Transelecetrica, Romania’s system and transmission operator....more »

Electrica's shares made their stock market debut with a slight increase over the final price corresponding to the recently closed initial public offering. In the first day of trading on the Bucharest Stock Exchange (BVB) and the London Stock Exchange (LSE) where securities are available in the form of Global Depository Receipts, the open price reported by the BVB went up to 11.11 lei per share, compared to the final offer price of 11 lei and 10.45 lei, respectively, for retail investors benefitting from the discounted securities....more »

The Board of Romania’s Central Bank, BNR, has decided to keep the monetary policy rate at 3.5 percent per year, the historic low achieved in February this year, following successive drops. An important decision taken during the board meeting ...more »

For the second time in insolvency, Romania’s main electricity producer and supplier reports a gross profit of 401 million lei (more than 91 million euro) cumulated within the first five months of the year, after deducting the 75 million lei tax on special construction corresponding to S1 in 2014....more »

The London based Acquisition International Magazine declared Maravela & Asociatii both Mergers & Acquisitions and Contract Law firm of the year in Romania, placing the law firm among top-tier global players such as Linklaters, Herbert Smith, K&L Gates, Norton Rose, Baker & McKenzie or Bird & Bird....more »

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 »

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 »

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 »

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 »