The Investment Manager of Fondul Proprietatea (FP) announces the launch of an accelerated bookbuild offering of a base deal of minimum of about 1.4 billion existing shares in OMV Petrom S.A. Book building will commence immediately. FP holds approximately 5.66 billion shares of OMV Petrom, worth about 1.835 billion lei, according to the FP report of June 30, which estimates the minimum portfolio sold at about 453 million lei.
Citigroup Global Markets Limited and WOOD & Company Financial Services, A.S. will act as joint bookrunners for the transaction.
”The Fund has agreed to a 180 day lock-up period from the pricing of the Transaction, subject to waiver with the consent of the Bookrunners and subject to certain customary exceptions. Petrom will not receive any proceeds from the Transaction. The results of the Transaction will be announced as soon as practicable after the close of the bookbuild process.”