Fondul Proprietatea Sells 1.7bn shares in OMV Petrom Through ABB

With the shares’ selling price agreed at RON 0.33 per share, the gross proceeds of the transaction amount to RON 561m.

Following up on Fondul Proprietatea announcing ABB offering for roughly 1.4bn shares in OMV Petrom, the company ended up announcing the agreement to sell 1.7bn existing shares in OMV Petrom by the accelerated bookbuild offering.

With the shares’ selling price agreed at RON 0.33 per share, the gross proceeds of the transaction amount to RON 561m. Note that represents a discount to market price of 5.4%. Subject to successful settlement completion, the Fund’s remaining participation in OMV Petrom is of 6.9973% of its share capital.

As a reminder, OMV Petrom will not receive any proceeds from the transaction.

Overview of Transaction Discounts