The Fund put up RON278 million for grabs in the Offer whose subscription period started on August 4, 2020. Thus, an investor that introduced an order to sell 1,000 FP shares, will actually sell 65 shares, per calculations by Ziarul Financiar based on an allocation index of 0.0655. The number of shares allotted to investors is rounded down relative to the whole number immediately lower, per the prospectus.
“The allocation ratio is 0.06559288677. The number of repurchased shares is 220,000,000 shares (147,747,650 in the form of shares and 72,252,350 shares in the form of GDRs, namely 1,445,047 GDRs); Purchase price: RON1.39 per share and the USD equivalent of RON69.50 per GDR, computed in accordance with the terms and conditions of the Tender Offer Documentation; the Fund will revert on 10 September 2020 with a further announcement regarding the exchange rate applicable for the GDRs; Settlement / payment date: 14 September 2020 for shares. With respect to GDRs, the GDR Tender Agent will no later than 14 September 2020 pay the GDRs purchase price to the Clearing Systems for further distribution to Investors whose GDRs have been accepted for purchase in the Offer,” the report reads.
The Fund also said “total subscriptions reached 3,354,023,458 shares, representing 1,524.55% of the Offer (2,252,495,008 were subscribed in the form of shares and 1,101,528,450 shares in the form of global depositary receipts which represent the shares (“GDR”), namely 22,030,569 GDRs)”, the report also shows.