Digi Communication shareholders plan to obtain RON 1.21 bln in IPO

Georgeta Gheorghe 27/04/2017 | 11:06

Digi Communication shareholders are planning to obtain RON 1.218 billion after listing the company on the Bucharest Stock Exchange (BVB). The expected price is between RON 38 and 56 per share.

The offer is split in two, that of public investors and of retail actors. The first part of the offer, that for public investors is targeting certain Qualified Investors in the European Union and from outside the United States and, according to the Regulation S and from the United States, only to people considered QIB, according to Rule 144A. This share will have an initial number of 18,482,492 shares, representing 85 percent of the initial offering.

The Retail Investors share addresses private individuals or public persons and companies, other than the public investors, and will have allocated an initial number of 3,261,616 shares offered, representing 15 percent of the initial number of shares offered.

Currently, the subscribed social capital of the society consists of 65,756,028 Class A shares with a nominal value of EUR 0.10, as well as from 34,243,972 Class B shares, with a nominal value of EUR 0.01.

The shares included are Class B shares, therefore they represent less voting rights.

Each of the share offered will have the same rights, including in what regards voting rights and dividends. The shares offered will have the same rights to dividends as Class A shares, however, the shares offered will have less voting rights compared to the voting rights corresponding to Class A shares, which will have 10 voting rights per share.

The company will be listed with the DIGI symbol, and the trading of shares is estimated to start on May 16.

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