A consortium comprising BCR, Intercapital Invest and Swiss Capital was selected to help with the public offering, which will kick off Wednesday.
Transelectrica will offer almost 11 million shares, or 15% of the company, to the public at a price range of RON14.9 to RON19.2 (EUR3.41 to EUR4.4) per share. The offer is deemed successful if investors buy at least 70% of the shares.
The managing consortium stands to receive 1.97% of the shares sold. If all the shares are sold at the minimum price, the consortium will collect RON3.2 million. Similarly, if the shares sell at the maximum price, the brokers will get RON4.1 million.
Transelectrica is 73.68%-owned by the Romanian Economy Ministry.
The company reported a net profit of RON90.3 million in 2011, tenfold higher on the year, on total sales of RON2.9 billion.
Monday, Transelectrica’s shares closed down 1.1% at RON17.06. (EUR1=RON4.3575)