Dutch financial group ING is the third largest stockholder in the company, Nicolescu said. He didn’t mentioned ING’s exact holding in Electrica.
The Energy Department, with a 48.8% stake, remains the company’s biggest stockholder.
Electrica raised 1.95 billion lei (EUR444.3 million) in an initial public offering of 51% of its shares, the largest IPO on the Romanian capital market to date.
The company sold 177.18 million shares and global depositary receipts, or GDRs, at RON11 a share ($13.66 a GDR), the low end of the expected range of RON11 to RON13.5 a share.
Small retail investors purchased 11% of the available stock in the retail tranche, of 37.2 million shares and GDRs (or 20.99% of the total IPO shares), Nicolescu said.
“It’s an extraordinary thing. We are talking about at least 2,000 new participants in the capital market,” he said.
The shares and GDRs are due for listing in Bucharest and London on July 4.