Romgaz fund sells stake in Romania repeat

electricity
By Andrew Griffin
19 Jun 2014

A local fund sold a L642m ($198m) stake in Romanian gas producer Romgaz on Monday night, making it the second deal in quick succession from the country after a dearth of Romanian equity capital markets activity.

Romanian investment fund Fondul Proprietatea sold 19.2m shares, roughly 5% of the company, for L33.5 each, a 6.1% discount to Monday's close.

The shares are also listed as global depository receipts (GDRs) in London, which were sold at $10.32, equal with the Romanian price at ...

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