With an 476% subscription on the retail investor tranche and institutional investor tranche fully subscribed early in the IPO, Hidroelectrica’s listing on the Bucharest Stock Exchange can be considered a success.
“The interest in the offering exceeded our expectations and brought with it a wave of new investors. We hope they see the stock market beyond Hidroelectrica and realize there are other opportunities on the Romanian capital market, as well,” says Radu Cojoc, broker with brokerage firm Goldring.
The number of shares subscribed by retail investors by 12 p.m. on Tuesday was 55.75 million, as shown by brokers’ systems. Brokers will continue to process orders for a few hours, especially those received via banks. The number of orders is about 52,000, ZF has found.
Hidroelectrica is due to start trading on the Bucharest Stock Exchange on July 12.
(English version by Loredana Fratila-Cristescu)