Romgaz’s shares were priced at RON33.5 and $10.32 for the GDRs traded in London, respectively. Prior to the launch of the bookbuild offering Monday evening, Romgaz traded at RON35.6 a share in Bucharest, roughly 5.9% higher.
At around 3:40 pm today, Romgaz’s shares traded at RON34.4.
Following the transaction, Fondul Proprietatea’s stake in Romgaz fell to 10.01%. Romgaz is majority owned by the Economy Ministry.
Goldman Sachs International acted as the sole bookrunner for the transaction, while Erste Group Bank AG acted as joint lead manager.