Brokers gain 800,000 euros from Transelectrica''s listing

The syndicate of brokerage companies, which will handle the floatation of power grid company Transelectrica, will collect a fee worth almost 800,000 euros if it manages to sell all the shares in the offering. According to the issue prospectus, the brokers” fee will account for 2.25% of the value of the offering, which will stand at 123 million RON (34.6 million euros). The syndicate, which will broker the public offering is made up of Alpha Finance, Alpha Bank”s brokerage company as the main manager and BRD Securities and Raiffeisen Capital & Investment as managers. Transelectrica will offer 7.3 million shares with a par value of 10 RON, for a price of 16.8 RON/share as of June 14. The prospectus for the offering was approved at the end of last week by the CNVM (The National Securities Commission). The stake that is up for sale is made up of newly issued shares and will account for 10% in the company”s capital after the offering is over. ZF