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Romania To Sell Petrom Shares For $870M
Romania will sell 5.57 billion shares of oil company Petrom for about $870 million.
Romania will sell 5.57 billion shares of oil company Petrom for about$870 million, Bloomberg reports. Institutional investors may subscribe to about 85% of the offered shares, while retail investors will get the remaining 15%.
The Romanian government, which currently owns 20.6% of the company, is seeking to repay loans taken from the International Monetary Fund and the European Union. Renaissance Capital, EFG Securities, BT Securities Romania and Romcapital are managing the offering.
Click here for the story from Bloomberg.
Click here for the additional coverage from AFP.