Total subscriptions reached 1.37 billion shares, representing 828.1% of the public tender offer, which means the offer was oversubscribed over eight times, according to calculations by Ziarul Financiar (ZF).
The purchase price was RON1.39 per share, respectively the USD equivalent of RON69.5 per GDR, computed in accordance with the terms and conditions of the Tender Offer Documentation, which means the total value of the tender offer stood at RON229.3 million, according to ZF calculations.
The allocation ratio set within the public tender offer is 0.12075827092. The total number of shares allocated to the investors that subscribed reaches 101.8 million shares, while the number of GDRs reaches 1.3 million, Overall, Fondul Proprietatea repurchased a total 165 million shares.
The settlement/payment date for shares is December 21. With respect to GDRs, the GDR Tender Agent will no later than 21 December 2020 pay the GDRs purchase price to the Clearing Systems for further distribution to Investors whose GDRs have been accepted for purchase in the tender offer.
Fondul Proprietatea has a market value of RON9.9 billion. Its shares have been trading up 13.64% since the beginning of 2020, amid deals worth RON1.3 million, per stock market data.