Telecom services provider Digi announced that the price for its IPO of class B ordinary shares on the Bucharest Stock Exchange (BVB) has been set at RON 40, a press release informs.
23,918,519 offer shares have been offered, representing a free float of 25.6 percent of the company’s total number of shares other than shares held in treasury, assuming exercise of the 10 percent over-allotment option, immediately following admission.
Unconditional trading in the class B ordinary shares of Digi is expected to commence on BVB at 9.45 am on May 16, 2017.
“We have been very pleased with the strong response from retail and institutional investors since we announced our Intention to float on the Bucharest Stock Exchange. This IPO is an important step in DIGI’s evolution, allowing investors to gain access to an attractive industry leader, with stable structural growth. We believe the strong support from investors is testament to strength of our existing business and future growth prospects,” Serghei Bulgac, CEO of Digi, said.
The offer for Public Investors addresses to certain Qualified Investors in the European Union and outside U.S. and, according to the S Regulation from U.S., only to persons reasonably considered to be QIB (qualified institutional buyer – ed. note), according to 144A Rule.