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SSIF Swiss Capital, BT Securities to arrange public offering of shares in Nuclearelectrica
A consortium made up of Swiss Capital SA financial investment company as the syndicate leader and BT Securities SA has been declared the winner to arrange an initial public offering (IPO) of newly-issued shares in Romania's Nuclearelectrica nuclear power corporation, the Romanian Ministry of Economy, Trade and Business Milieu (MECMA) reported on Monday.
The winning consortium will start its business as soon as the commitment letter is signed and enters into force.
There were two bids submitted for the selection of the arranger of the IPO of newly issued Nuclearelectrica shares following a capital increase by 10 percent of the existing share capital of the corporation. It was a consortium made up of Wood & Company Financial Services of the Czech Republic, as the syndicate leader, and Intercapital Invest SA financial intermediation company and the Swiss Capital SA - BT Securities SA consortium.
Nuclearelectrica is scheduled to be floated on the Bucharest Stock Exchange in the first quarter of 2013. The company has a share capital of RON 2.536 billion (nearly 0.554 billion euros at today's value). The current majority shareholder in Nuclearelectrica is MECMA, with a 90.27-percent stake. The other significant shareholder is Fondul Proprietatea sovereign fund, with a 9.73-percent stake.