Fund sells down Romgaz stake in second Romanian deal

By Andrew Griffin
17 Jun 2014

A local fund sold a $198m stake in Romanian gas producer Romgaz on Monday night, making it the second deal from the country in quick succession after a dearth of Romanian capital markets activity.

Romanian investment fund Fondul Proprietatea sold 19.2m shares, roughly 5% of the company, for L33.5 ($10.31) each. That was around $10.32 for the London listed global depository receipts (GDRs), and represented a 6.1% discount to Monday’s close.

The deal was launched on Monday ...

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