By Emea Riga
Franklin Templeton International Services S.À R.L., in its capacity of alternative investment fund manager (“FTIS”) of Fondul Proprietatea S.A. (the “Fund” / “Fondul Proprietatea”), announces the launch of an accelerated bookbuild offering of up to 1,700,000,000 ordinary shares, plus an upsize option of further up to 1,150,000,000 ordinary shares held by the Fund in OMV Petrom S.A. (“Petrom” / “Company”) (the “Transaction”).
Book building will begin immediately.
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 (the “Bookrunners”).
The Fund has agreed with the Bookrunners to a 90 day 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.
The results of the Transaction will be announced as soon as practicable after the close of the bookbuild process. The timing for the close of the bookbuild process, pricing and allocations are at the absolute discretion of the Fund and the Bookrunners.
The shareholding of Fondul Proprietatea in Petrom, after this transaction, is 1,688,548,078 shares, representing 2.98% of Petrom’s share capital.
