Premium
Fondul Proprietatea (FP) will be selling 1.7 billion existing shares in OMV Petrom through an accelerated bookbuild offering, expecting 561 million lei in gross proceeds, according to a report submitted to the Bucharest Stock Exchange (BVB).
FP mentions that, with the shares' selling price agreed at RON 0.33/share, the gross proceeds of the Transaction amount to RON 561 million. Petrom will not receive any proceeds from the transaction.
"Subject to successful settlement completion, the Fund's remaining participation in Petrom is of 6.9973 per cent of its share capital. Citigroup Global Markets Limited and WOOD & Company Financial Services, A.S. acted as Joint Bookrunners for the Transaction," reads the report.
OMV Petrom is the largest energy company in South-Eastern Europe, with an annual Group hydrocarbon production of 55.4 million boe in 2019. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high efficiency power plant. The Group is present on the oil products retail market in Romania and neighboring countries through 802 filling stations, at the end of June 2020, under two brands - OMV and Petrom.
OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51.011% stake in OMV Petrom. The Romanian State, through the Ministry of Economy, Energy and Business Environment, holds 20.639% of OMV Petrom shares, Fondul Proprietatea holds 9.998%, and 18.352% is the free float on the Bucharest Stock Exchange and the London Stock Exchange.
OMV Petrom is the largest contributor to Romania's national budget, with contributions of 30.4 billion euro in taxes and dividends paid between 2005 and 2019.
