* Constantin Niţă: "We are hoping to make about 300-350 million lei, this would be about the most we could make"
* Remus Vulpescu: "The structure of the IPO, is fair to ensure its success"
The government wants to make a maximum of 300-350 million lei (66-78 million Euros) for the stake of 10% of din Nuclearelectrica, which it will sell through an IPO on the Bucharest Stock Exchange, according to the statements made yesterday by Constantin Niţă, the delegated minister for energy.
The government yesterday changed the decision no. 39/2012 for the approval of the strategy for the privatization of "Nuclearelectrica", by splitting the IPO in three segments.
Constantin Niţă said: "85% of the shares will be granted to the institutional investors, and the remaining 15% to retail investors, in two tranches, namely small subscriptions of up to 15,000 shares and 5% to those who buy more than 15,000 shares. We would like a subscription as high as possible, we are betting on the institutional investors subscribing 150% or more, and based on that we hope to get as a good a price as possible. I would like to obtain as much as possible, but we need to make a ratio based on the share capital which is somewhere in the vicinity of 2.5 billion lei, and what we can get considering that investors aren't too fond of nuclear energy. You know what happened in Japan, at Fukushima, and that had a negative influence on investors".
* The context isn't as favorable as it was at "Transgaz"
The market context for the IPO of Nuclearelectrica isn't as favorable as it was for the secondary offer of "Transgaz" in April, according to Simion Tihon, a broker with "Prime Transaction". He told us: "I think, however, that this has more to do with the attempt to stick with the privatization schedule agreed with the IMF than with a privatization conducted after a careful stu
