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Ponta will go to the UK to be present at the listing of Romgaz on the London Stock Exchange

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Premier Victor Ponta will make, at the beginning of next week, a visit to the UK, where he will be present at the beginning of tradings on the London Stock Exchange with Romgaz shares, sold under the format of GDR, governmental sources told Mediafax. The deadline estimated for the listing of Romgaz both on the Bucharest stock exchange and the London one is Tuesday 12 November.

 

In the meeting on Wednesday, premier Ponta congratulated the minister for energy Constantin Nita for the succes of selling 15% of the Romgaz shares and announced that next week the company will be listed on the London Stock Exchange.

 

The Romanian state sold 15%of the Romgaz shares through the initial offer on the Stock Exchange for 1.7 billion lei ( 534 million dollars or 391 million euro). The investors bought 36% of the Romgaz shares under the format of deposit certificates which will be listed on the London Stock Exchange, the rest of 64% being acquired directly as shares which will traded on the Bucharest Stock Exchange. The investors placed orders of 2.8 billion euro, out of which 204 institutional investors had subscriptions of over 1.7 billion euro, and 11,903 investors of retail subscripted over 1.1 billion euro.The part of the small investors was superscribed 17.7 times, and the highest order placed for this segment was 249 million lei ( almost 90%).

 

The European Bank for Reconstruction and Development (BERD) took over 1.9% of the Romgaz shares in the initial public bid, representing approximately 13% of the package for sale by the state, for the equivalent in lei of 50 million euro ( approximately 225.5 million lei).

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