The Romanian state announced Thursday morning the details of its secondary sale offer for a 9.84% stake in oil company Petrom. The sale will apply a maximum price of 0.46 lei (EUR0.11), 15% higher than Wednesday’s closing price.
Early Thursday, Petrom shares were rising 3.77% on the day, to RON0.413, and the company was the top-traded issuer.
At around 10:56 am local time, the Bucharest Stock Exchange’s composite index BET-C was up 0.21%, while 10-share blue-chip tracker BET was gaining 0.25%.
BET-FI, the index tracking the five regional investment funds, or SIFs, and investment fund Fondul Proprietatea (FP.RO), was rising 0.47% on the day.
The BET Extended index, or BET-XT, which tracks the top-25 blue-chips, was up 0.31%, while the index tracking energy companies, BET-NG, was up 0.87%.
Trades unfolded on the Bucharest Stock Exchange by 11:02 amounted to RON2.82 million.
Aside from Petrom, popular stock early Thursday included the Proprietatea fund, Oltchim (OLT.RO), SIF Muntenia (SIF4.RO) and SIF Oltenia (SIF5.RO). (EUR1=RON4.2022)