BUCHAREST, June 26 The initial public offering
of a 51 percent stake in Romania's state-owned electricity
provider Electrica was more than twice oversubscribed, the head
of the privatisation agency said on Thursday.
Most institutional investors who subscribed shares in the
IPO came from from Romania, Great Britain, the United States and
Romania set a price range of 11-13.5 lei ($4.16) per share
for the offering.
The share sale ran from June 16 to June 25 on the Bucharest
Stock Exchange and in London, where the firm aims to list global
depositary receipts. Citigroup, Raiffeisen and Societe Generale
form the consortium of advisers for the listing.
(Reporting by Luiza Ilie; writing by Radu Marinas)