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Holders of Romgaz stocks gain 13 pct-26 pct on first Stock Exchange trading day
Those having bought shares in the public offering for natural gas company Romgaz obtained gains at between 13 percent and 26 percent on Tuesday, on the first day that the stocks were traded on the Bucharest Stock Exchange (BVB).
As many as 3,173 transactions in Romgaz shares totalling 65.25 million lei (14.65 million euros) had been registered on the BVB by 3 p.m., and the share prices ranged from a minimum 34 lei per share to a maximum 35.95 lei per share. Stocks opened at 35.85 lei a share and the last market price at 3 p.m. was 34.43 lei a share.
Given that the offering closing price was 30 lei a share and, for those having purchased at an offer discount of 5 percent, it was 28.5 lei a share, the gains made on the stock market on Tuesday ranged between 13 percent and 26 percent.
Trading in shares of state natural gas producer Romgaz opened on the regulated market managed by the Bucharest Stock Exchange on Tuesday. The state listed a 15 percent stake on the BVB, so that it is left a 70 percent stake, while Fondul Proprietatea holds 15 percent of the shares.
Romgaz listing on London Stock Exchange - an historic moment for Romania, PM Ponta says
Romanian Prime Minister Victor Ponta on Tuesday opened the first day of Romanian natural gas company Romgaz trading on the London Stock Exchange, as he said it is an historic moment for Romania, given it is for the first time that a state-owned company is being listed in such an international operation.
'This is an historic moment for my country. It is for the first time that a state-owned company is being listed in such an international operation. I do not conceal my satisfaction for the successful IPO (initial public offering - editor's note) and I would like to congratulate Romgaz and the other involved players, Goldman (Sachs International), for this complex and difficult operation', the Government's press office quotes Ponta as saying in an address after the opening of the London Stock Exchange trading.
The prime minister announced that other Romanian companies will follow after Romgaz listing, next year.
'After this success story we must look forward and we will return to London next year with (hydro-power producer) Hidroelectrica, (energy distributor) Electrica and other Romanian public companies. And I hope by this we send a powerful and important message to the international companies, namely that Romania is showing openness towards the world and can use a potential it has not used up until now', Ponta stressed.
Xavier Rolet, CEO London Stock Exchange said he was honoured that the institution he represents hosts the first Romanian privatisation by international listing and added 'Romania has a special role in our hearts'.
Rolet congratulated Romgaz and the other companies involved in the listing and voiced conviction that other operations of this kind would follow in partnership with the Romanian companies.
Romgaz IPO is the first public offering of a Romanian state company in London.