The bank sold 229.5 million shares at RON0.395 per share. The EBRD became Petrom shareholder in 2004 with a stake of approximately 2.03%.
“The exit price per share represented a small discount to yesterday’s closing price of RON0.395 on the Bucharest Stock Exchange. Raiffeisen Capital & Investment S.A. and Wood & Co. acted as joint bookrunners on the placement, which carries a 90-day lock-up,” the EBRD said in a press release.
“Our partial exit from Petrom comes as Romania’s attractiveness to institutional investors has grown. We are proud to have contributed to making Petrom the successful, strong and attractive company it is today. As an on-going shareholder, we remain committed to the excellent co-operation with Petrom as a leading partner in the region,” said Kevin Bortz, EBRD natural resources director.
OMV Petrom is 51.01%-owned by Austrian group OMV. The Economy Ministry holds a 20.63% stake in the company, while investment fund Fondul Proprietatea (FP.RO) owns 20.11%. (EUR1=RON4.5118)