The Fund lowered its stake slightly in the third quarter when it sold about 40 million shares directly via the Bucharest Stock Exchange, following some RON20 milion transactions, according to ZF’s calculations.
Fondul Proprietatea seeks to sell the 1.77 billion shares it owns in the largest company listed on the Romanian stock market. Taking into account the trading price on Tuesday, RON0.465/share, the transaction should amount to RON826.3 million.
The OMV Petrom stake is the fund’s largest after the 20% in Hidroelectrica, valued at some RON12 billion.
“Erste Group Bank AG and Swiss Capital will act as joint global coordinators and joint bookrunners, and Banca Comerciala Romana and Auerbach Grayson and Company will act as joint bookrunners for the transaction. Subject to placement of all Petrom shares in the accelerated bookbuild offering, the Fund will no longer hold shares in Petrom following the settlement of the transaction. Petrom will not receive any proceeds from the transaction,” the notification to the Bucharest Stock Exchange shows.
The results of the transaction will be announced as soon as practicable after the close of the bookbuild process. The timing for the closing of the bookbuild process, pricing and allocations are at the absolute discretion of the Fund and the bookrunners.
(English version by Loredana Fratila-Cristescu)