The volume of orders placed by the retail investors on the first day of the initial public offer (IPO) at Romania's major energy producer Hidroelectrica reached RON 381 million, meaning 3.4 million shares or 0.84% of the company's total number of shares.

Retail investors were allotted a 15% portion of the 17.34% IPO organised by Fondul Proprietatea, but the share may increase to 20%, Hotnews.ro reported.

This means 10.5 million shares are for small investors in the first stage, but depending on their interest, the number made available to them may increase to 14 million.

The final price paid in the IPO, valid for all investors (retail or institutional), will be decided after the institutional investors place their bids. 

iulian@romania-insider.com

(Photo source: the company)