Energo-Pro’s first auction day on the BSE was a success. Today the Bulgarian government auctioned throught the Bulgarian Stock Exchange its 33% stake in Energo-Pro Grid (BSE:2EG) and Energo-Pro Sales (BSE:4ES) (the former E.ON Bulgaria).
The sale of the Energo-Pro power distribution companies’ government minority stakes surpasses the optimistic analysts’ and the BSE management’s expectations. During the one hour auction 418,660 shares of Energo-Pro Grid and 456,348 shares of Energo-Pro Sales were sold for BGN 58 M and BGN 6 M, respectively. The market orders, which were the majority part of the submitted offers, were approved for a price of BGN 139.35 per share for Energy-Pro Grid and BGN 13.89 per share for Energy-Pro Sales. The realized prices are 26.8% higher for Energo-Pro Grid and 25.3% higher for Energy-Pro Sales.
The total number of the deals for today’s auction is 359. Shares of the two companies were bought by more than 25 investment firms.
The Czech company Energy-Pro bought 59 % of the E.ON Bulgaria stakes in the beginning of 2012
and 33 % are owned by Bulgarian government. The utility company operates in Northeast Bulgaria in the regions of Varna, Dobrich, Silistra, Russe, Razgrad, Gabrovo, Veliko Tarnovo, Shumen and Targovishte.
“Today’s auction is one step further towards the accomplishment of the BSE-Sofia’s strategy for increasing the investors’ interest towards the Bulgarian stock market”, commented Vasil Golemanski, Chief Executive Officer of BSE-Sofia. “Today’s success is the result of two years of hard work by many companies and government institutions”
