The Transelectrica secondary public offering might be launched the day after its prospect is approved by securities regulator CNVM. The regulator will approve the prospect once authorities decide the minimum and maximum prices.
The offering would unfold over ten working days, with a possibility for an one to three-day extension, depending on investor interest.
The operation is brokered by a consortium that includes Banca Comerciala Romana (BCR), Intercapital Invest and Swiss Capital.
Transelectrica is 73.68% owned by the Economy Ministry, while investment fund Fondul Proprietatea (FP.RO) holds a 13.49% stake.
Company shares closed down 1.1% Monday, at 17.06.lei (EUR3.91). At this price, the stake on sale is evaluated at RON187.5 million (EUR43 million). (EUR1=RON4.3558)