June 26, 2014 / 7:11 AM / 4 years ago

Romania says Electrica IPO two times oversubscribed

BUCHAREST, June 26 (Reuters) - 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 Poland.

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)

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