Allianz exceeds the 5% threshold in Electrica, benefits from shares recovery

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Bogdan Tudorache

An investment fund owned by Allianz has acquired Electrica shares, exceeding the 5% threshold, according to a report submitted to the Bucharest Stock Exchange.

”Electrica informs its shareholders that on 30 March 2020 the Company received the Notification of major holdings from Allianz SE, attached to the present report. According to the notification, starting with 26 March 2020, the entities indirectly held by Allianz SE and mentioned in the notification exceeded the threshold of 5%, respectively have reached a holding of 5.09% of the voting rights of Electrica calculated on the basis of all the shares to which voting rights are attached, even if for the treasury shares (6,890,593 treasury shares) the exercise thereof is suspended, according to the provisions of art. 69 (1) of Law 24/2017 on issuers of financial instruments and market operations”, reveals the report.

EL shares reached a low in mid-March, when the pandemic emergency was announced. From a peak at the beginning of January of about 10.8 lei per share, the securities lost about 25.7%, in the middle of March, since then regaining ground, on an increasing trend, up to 9.62 lei per share, at the closing of Thursday, April 2 (almost +19%).

The shareholders are the Romanian state (48.79%), companies (46.73%) and individuals (4.46%).

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