Published: October 21, 2013
Offering is the latest in a series of Romanian privatisation IPOs.
The Romanian government has announced the indicative price range for the IPO of Romgaz, the country’s largest natural-gas producer. It has been set at RON24-32 (US$7.38-9.84). The offering will consist of shares floated on the Bucharest Stock Exchange and global depository receipts (GDR) listed in London, with each GDR equating to one share.
About 15% of the business is to be floated, worth between US$426.66mn and US$568.88mn. The government will maintain a stake of at least 70%. The institutional investor roadshow began on Monday October 21 and will run until October 30. Bookbuilding for retail customers takes place on October 22.
Goldman Sachs and Erste Group are acting as joint global coordinators while Commercial Bank of Romania and Raiffeisen Capital & Investment have been appointed domestic lead managers.