The sale by the Romanian state of a 9.84 per cent stake in oil operator Petrom will begin July 11-12, with the shares to be distributed on a ‘first-come, first-served” basis, capital market sources told Mediafax. “The tranche for institutional investors will account for 80-90 per cent of the package, and that for small investors, 10-20 per cent,” according to the source quoted. This could eventually lead to two sale prices, one for institutional investors, and another one for small investors respectively. The final prices will be set and published on the last or penultimate day of the sale offer.
