“Electrica is a company with good perspectives, thus, its prospectus is worth being analyzed. We wish it would become a model for Romania in terms of corporate governance. The agreement with EBRD in this respect will be helpful for the company,” Nicolescu stated.
Electrica IPO started Monday, June 16, and will end Wednesday, June 25.
Electrica is offering 177.18 million shares at a price range of 11 to 13.5 lei (EUR2.5 to EUR3.07) per share and at $13.55 to $16.63 per GDR. Large retail investors are offered 8% of the available shares, while the remaining shares and GDRs are up for grabs for corporate investors.
At that price range, Electrica’s 51% stake on offer is valued at RON1.95 billion to RON2.39 billion (EUR443.3 million to EUR544.1 million).