Romania Electrica SA shares edge up in market debut
BUCHAREST, July 4
BUCHAREST, July 4 (Reuters) - Shares in Romania's power utility Electrica SA edged up in their market debut on the Bucharest Stock Exchange on Friday, about 1.2 percent higher than the price of an initial public offering last month.
Electrica, which supplies power to 3.5 million customers in the European Union state and has a regulated, guaranteed profit margin, set the final price of its shares at 11 lei ($3.41)apiece, having previously set a range of 11-13.5 lei.
Electrica's flotation, involving the sale of 51 percent of the company's equity to raise 1.95 billion lei ($605.8 million)to help fund its investment plans, was one of at least three selloffs the government had committed to carry out this year. ($1 = 3.2250 Romanian lei) (Reporting by Radu Marinas)