LONDON, UK: Franklin Templeton International Services, in its capacity of alternative investment fund manager (FTIS) of Fondul Proprietatea S.A. has launched an accelerated bookbuild offering of up to 1.7 billion ordinary shares, plus an upsize option of further up to 1.15 billion ordinary shares held by the Fund in OMV Petrom S.A.
OMV Petrom S.A. is a Romanian integrated oil company, controlled by Austria’s OMV. It is one of the largest corporations in Romania and the largest oil and gas producer in Southeast Europe. Since 2004 it is a subsidiary of OMV. Book building commenced on Wednesday.
Erste Group Bank AG and SSIF Swiss Capital S.A. will act as Joint Global Coordinators and Joint Bookrunners, and Banca Comercială Română S.A. and Auerbach Grayson and Company LLC will act as Joint Bookrunners for the Transaction.
Fondul Proprietatea has agreed with the Bookrunners to a 90 days lock-up period starting from 19 January 2022 in connection with the remaining shares and global depositary receipts having as underlying security shares of the Company, held by the Fund in Petrom (as well as or any other securities of the Company which are substantially similar to the foregoing).
The lock-up may be waived by the Bookrunners. Petrom will not receive any proceeds from the Transaction.
Fondul Proprietatea SA is a Romania-based closed-end investment company. The main activities of the Company are the business of operating mutual funds and other similar financial entities. The Company’s investment objective is long term capital appreciation through investment primarily in Romanian equities with strict adherence to the principles of value investing.
The Company’s investment portfolio includes holdings in entities engaged in the power utilities, oil and gas sectors, as well as in banking services provision, postal services, industry and infrastructure sectors.
The Company operates through numerous subsidiaries, including Alcom SA, Carom – Broker de Asigurare SA, Comsig SA, Primcom SA, Romplumb SA, Telerom Proiect SA and Zirom SA.
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