Digi to get RON 956.7 mln from IPO

News General Romania 13 MEI 2017
Digi to get RON 956.7 mln from IPO

Digi Communications, the mother company of RCS&RDS, will manage to get RON 956.74 million (EUR 210 million) from the sale of 23.9 million class B shares at the initial public offering (IPO) on the Bucharest Stock Exchange (BVB), according to local portal News.ro. The shares are scheduled to start trading on 16 May. RCS&RDS initially estimated it would sell 21.74 million class B shares during its IPO and raise RON 1.2 billion.

The set price at the end of the offer was RON 40 per share, that's only 5 percent above the minimum threshold of RON 38 and the conditions in which the demand for Digi shares exceeded the offer several times. The offered shares accounted for 25.6 percent of the total. The company's value is being estimated at over EUR 820 million. An anti-corruption investigation concerning RCS&RDS officials was opened during the offer.

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