The bourse’s liquidity rose RON1.128 billion to a record high of RON1.176 billion after the stock exchange entered in its system the results of an initial public offering (IPO) through which the state sold 15% in natural gas producer Romgaz for 1.734 billion lei (about EUR391 million). The offering ended on October 31.
The IPO is the largest public offering ever to be completed in Romania and the first privatization to include a global depository receipt (GDR) component to be traded on the London Stock Exchange. Romgaz shares will most likely start trading in Bucharest and London on November 12.
The Bucharest market’s main index BET and composite index BET-C both gained 0.9%.
BET-FI, which tracks Fondul Proprietatea (FP.RO) and the five regional investment funds (SIFs), closed 0.43% higher. Proprietatea closed up 0.56%, at RON0.8095 a share.
Fondul Proprietatea was top-traded issuer on the main market with share transfers worth RON20 million.
Bucharest benchmark index BET-BK rose 0.75% and energy stocks tracker BET-NG rose 2%, helped mainly by OMV Petrom (SNP.RO) (2.88%) and Transgaz (TGN.RO) (3.44%).
Nuclearelectrica, which started trading in Bucharest Monday, closed up 0.35%, at RON11.59 per unit. (EUR1=RON4.4328)