Energy minister: Electrica IPO should be fully subscribed by Monday

The initial public offering (IPO) for Electrica is progressing nicely and could be completely subscribed by Monday, two days before the end of the subscription period, according to Razvan Nicolescu, delegate minister for Energy, Mediafax reports.

“The Electrica IPO is progressing well. I expect the offer to be fully subscribed by Monday, June 23, at the latest. Electrica is a company with good perspectives and, that is why, its prospectus demands to be taken into consideration. We want Electrica to become the model for Romania in terms of corporate governance. The BERD agreement will help the company a lot”, the minister said in a statement transmitted on Thursday morning.

The Electrica IPO subscription period will run from June 16 to 26 on the Bucharest Stock Exchange and in London, where the firm aims to list global depositary receipts. Citigroup, Raiffeisen and Societe Generale form the consortium of advisers for the listing.

The stock has a starting price of between RON 11 and RON 13.5 /share, the company looking to attract EUR 435 million, Razvan Nicolescu, delegate minister for Energy, announced earlier in the month.

Read more about

Offices: 41% of total take-up was recorded in Pipera area in Q1 2024 in Bucharest

read more