Romania's Electrica raise 1.95 bln lei in IPO

BUCHAREST, June 27 Fri Jun 27, 2014 6:13am EDT

Related Topics

BUCHAREST, June 27 (Reuters) - Romanian power supplier Electrica raised 1.95 billion lei ($603.96 million) in an initial public offering on Bucharest and London stock exchanges of a 51 percent stake, with final pricing at the low end of a previously indicated range, its listing advisers said on Friday.

The leftist government agreed to the IPO, Romania's first so far this year, under a 4 billion euros aid deal led by the International Monetary Fund.

The final price was set at 11 lei ($3.41) per share and $13.66 per global depository receipt (GDR), which will trade in London. The government had set a price range of between 11 and 13.5 lei per share for the Electrica offering.

Citigroup C.N, Raiffeisen and Societe Generale advised on the listing. ($1 = 3.2287 Romanian lei) (Reporting by Luiza Ilie)