London Stock Exchange welcomes Romania’s Electrica S.A. to the Main Market

London Stock Exchange welcomes Romania’s Electrica S.A. to the Main Market

  • Romania’s Prime Minister, Victor Ponta joins Electrica S.A. CEO, Ioan Rosca and Romania's Minister of Energy, Razvan Nicolescu to open London trading
  • IPO raises $605 million, valuing the company at $1.18 billion
  • GDRs to trade on London Stock Exchange’s International Order Book

London Stock Exchange today welcomes Electrica S.A. to the Main Market following its listing of Global Depositary Receipts (GDRs). The company raised $605 million at IPO, giving it a market value of $1.18 billion. Together with its subsidiaries, Electrica S.A. is the leading distributor and supplier of electricity in Romania.

To mark the first day of unconditional dealing of the company’s GDRs on London Stock Exchange’s International Order Book, Romanian Prime Minister, Victor Ponta, Electrica’s CEO, Ioan Rosca and Romania's Minister of Energy, Razvan Nicolescu opened trading on the London markets this morning.

Xavier Rolet, CEO, London Stock Exchange Group said: 
“London Stock Exchange is committed to the development of international businesses on our markets and Electrica’s IPO once again demonstrates London’s ability to finance ambitious, growing companies from around the world.

This is a significant milestone for Romania’s privatisation programme and clearly shows that Romanian companies can attract the world’s largest investors and international visibility without compromising their ability to develop a domestic shareholder base.”

Victor Ponta, Prime Minister of Romania said:
“We are delighted to be here to mark Electrica’s first day of trading, following the privatisation of one of the most important companies in Romania’s energy sector. Electrica has set a new record amongst Romanian companies in terms of IPO proceeds. The success of Electrica’s listing is a natural reflection of the strength and soundness of the Romanian economy, which has recently posted some of the highest growth rates in the EU. This success also speaks of the attractive returns that investors can find in Romanian companies and of the remarkable outcome of our efforts to secure an alternative financing source for our companies’ investment programmes and sustainable development.”

Ioan Rosca, CEO, Electrica S.A. said:
“We are pleased that Electrica’s initial public offering has concluded successfully and allows us to implement our ambitious investment programme to align us with European industry trends. We will create value for our shareholders through investing the IPO proceeds mainly in our distribution network, where we can benefit from a favourable regulated return for these types of investments. It is our intention to distribute dividends based on a guidance of approximately 85% of consolidated profit attributable to shareholders.”

Electrica S.A is the second Romanian privatised company to list in London; Romgaz S.A debuted on the Main Market in November 2013.

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Notes to editors:

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