OTP officials said that institutional investors contributed most to the successful ending of the offering, who made subscriptions especially in the final day of the offering. “Institutional investors understood better the medium and long-term growth potential of companies in the field of renewable energy, that are the object of the fund’s investments when individual investors were more preoccupied with turbulence on local markets,” said Catalin Iancu, President of OTP AM.
The first initial public offering in 2009 was of OTP Wise RO, another closed-end fund with guaranteed capital, administered by OTP Asset Management and listed on the Bucharest Stock Exchange. OTP Wise RO was oversubscribed by 49 percent, selling titles worth nearly RON 9 mln (€2.1 mln).
OTP Green Energy is the first closed-end investment fund which guarantees both the invested capital and a 12 percent return throughout its period of existence, of three and a half years. The fund is also the first Romanian investment vehicle dedicated to the renewable energy sector.
