Romania Plans to Raise $589 Million From Electrica Sale
This article is for subscribers only.
Romania wants to raise at least 1.95 billion lei ($600 million) from the sale of a majority stake in power distributor Electrica SA in Bucharest and London in the country’s biggest initial public offering.
The Bucharest-based government set a price range of between 11 lei and 13.5 lei for each share, while interested investors can subscribe to the sale between June 16 and June 26, Energy Minister Razvan Nicolescu said in Bucharest today.