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Victor Ponta: Electrica initial public offering, positive message on Romanian economy trend
Electrica's initial public offering (IPO) registered a higher success than Romgaz's IPO and this is a positive message on the Romanian economy trend, the structural reforms we initiated, the privatisations and the openness of the Romanian economy, Prime Minister Victor Ponta said in the opening of the trading session of the London Stock Market.
'It is our second successful initial public offering. I could say that Electrica was even more successful than Romgaz. However, having competition between two Romanian companies on the international stock market is something we did not even think of one year ago. This successful IPO is a positive message on the trend of the Romania economy, the structural reforms initiated, the privatisations and the openness of the Romanian economy. I have learned today something I will use in my political life, that it is better to be lucky than smart. We've been lucky and now we must be smart to keep this luck and use it for the country and our companies,' Prime Minister Victor Ponta said.
Electrica was subject to the largest public offering carried out on the Romanian stock market and drew from institutional and retail investors 1.95 billion lei (444.3 million euros). A number of 11,613 investors bought 177.188 million Electrica shares, within the public offering concluded on June 25.
'I would like to voice my gratitude for the excellent relation between the London Stock Exchange, the Bucharest Stock Exchange and Romania's Government. From our point of view, we must work on consolidating this partnership and making it a long-term one,' Victor Ponta pointed out. 'My congratulations to all the people who have worked to make this listing a successful procedure and I am looking forward to seeing you at the next IPO,' Victor Ponta also said.
The Romanian Prime Minister on Friday participated, together with Minister Delegate for Energy Razvan Nicolescu, in the first listing on the London stock market of Electrica shares.