Romanian operator RCS&RDS will sell 21.74 million class B shares during its IPO in May on the Bucharest stock exchange, according to the prospectus and information provided by brokers to the local press. Of these, 18.48 million will be sold to institutional investors, namely 85 percent of the offer.
An earlier report said the company will sell a 20-30 percent stake of its total number of shares.
The company set an indicative price range of RON 38 to 56 per share, according to local paper Ziarul Financiar. The shares are scheduled to start trading on 16 May.
The retail tranche will consist of 3.26 million shares, which will be sold at a discount compared to the final offer price. Retail customers can buy shares for a minimum RON 2,800 and get a 7 percent discount in the first five days of the listing and a 3 percent discount on days 6, 7 and 8.
Shareholders are expected to raise up to RON 1.217 billion before costs from the sale of the shares. Total taxes and commissions may reach RON 40 million.
Carpathian Cable Investments, a company registered in Luxembourg, is the main seller in the IPO. This company will sell 18.9 percent of the company’s shares but will keep a 1.7 percent stake in Digi Communications for strategic reasons. Cyprus-based Celest Limited, ING
