October 20 (SeeNews) - Romanian oil and gas group OMV Petrom [BSE:SNP] said on Thursday that 373.8 million of its shares were admitted for listing on the London Stock Exchange (LSE) in the form of global depositary receipts (GDRs) at a value of 0.1 lei ($0.02/0.02 euro) per share.
The London listing of the GDRs is part of the sale through a secondary public offering of 6.4% of OMV Petrom by Romanian investment fund Fondul Proprietatea [BSE: FP].
Following the closing of the secondary public offering of Fondul Proprietatea of up to 3,641,100,108 shares owned in OMV Petrom in the form of shares and GDRs, Citibank, N.A. issued on Thursday 2,492,328 GDRs representing 373,849,200 ordinary shares with a par value of 0.1 lei per company share, OMV Petrom said in a statement filed with the Bucharest Stock Exchange (BVB).
The GDRs were admitted to listing on the standard segment of the official list of the United Kingdom Financial Conduct Authority and admitted to trading on the LSE’s main market for listed securities, OMV Petrom added.
On Monday, Fondul Proprietatea sold shares in OMV Petrom for 682 million lei ($166 million/151 million) in four separate transactions on the BVB.
Fondul Proprietatea sold most of the shares, 2.87 billion, for 0.21 lei ($0.5/0.5 euro) apiece, or 603.3 million lei in total, BVB data showed. The fund also sold 364.1 million shares for 72.68 million lei (0.1995 lei per share), 30 million shares for 6.3 million lei (0.21 lei per share) and 28.8 million shares for 6.51 million lei (0.2250 lei per par share).
OMV Petrom's shares were trading 0.21% lower at 0.2325 lei as at 1019 CET on Thursday on the BVB.
Fondul Proprietatea first announced its decision to sell part of its stake in OMV Petrom at the end of September. The decision was part of an ongoing commitment to increase value for the fund's shareholders and to improve the liquidity of the assets in the fund’s portfolio, Fondul Proprietatea said at the time.
The investment fund's shares were trading flat at 0.8040 lei at 1012 CET on Thursday on the BVB.
(1 euro=4.5007 lei)