Romania May Raise EU435 Million in Country’s Biggest IPO
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Romania will probably raise around 435 million euros ($592 million) from the sale of a majority stake in Electrica SA power distributor, the Black Sea country’s biggest share offering.
The average price for the shares sold in the Electrica initial public offering will probably be close to 11 lei per share, the minimum price set by the government, Gabriel Dumitrascu, head of the asset sale office in Bucharest, told reporters today. The final price will be announced after talks with sale managers, he said.