November 20, 2017

Romgaz will be listed until March 2013

According to an IMF memorandum seen by Mediafax newswire, the initial public offering (IPO) of the gas producer Romgaz will be carried out by March of next year, after a consultant will evaluate the gas reserves of the state-owned enterprise. The listing of Romgaz on the Bucharest Stock Exchange (BSE) is part of a larger privatization program agreed by Romania with the IMF. The government was expected to cash in around EUR 1 billion this year by selling minority stakes in 5 energy companies, including Hidrolectrica, the now insolvent hydro-power generator and Nuclearelectrica, the nuclear power producer. The next test for the domestic capital market is the SPO ofTransgaz, the gas network operator, which is scheduled for mid September. The listing of Nuclearelectrica was planned later this year, but is likely to be carried out in early 2013, as the nuclear power generator is currently selecting a consortium for the IPO. The consortium that carries out the Romgaz listing comprises of investment banks Goldman Sachs,Erste – BCR and the brokerage Raiffeisen Capital & Investment.

Source: Business-Review (read more)

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