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Romania To List State-Owned Cos Stock In 2H, 2011

The listing of 15% stakes in Romanian state-owned companies Transelectrica (TEL.RO), Transgaz (TGN.RO) and Romgaz, is set for the second half of this year, according to an economy ministry document obtained by MEDIAFAX.
Romania To List State-Owned Cos Stock In 2H, 2011
Andrei CîrchelanIoana Tudor
09 ian. 2011, 13:19, English

Thus, new stakes in electricity transporter Transelectrica and natural gas transporter Transgaz Medias will be available in June and, respectively, September. The two companies are already listed on the Bucharest Stock Exchange, with 11.5% and 12.81% stakes, respectively.

The other company, Romgaz Medias, will float stock in December, according to the document.

At the same time, the ministry will put list an additional 9.84% stake of oil company OMV Petrom (SNP.RO).

The ministry holds 73.69% in Transelectrica, 85% in Romgaz, 73.5% in Transgaz and 20.6% in OMV Petrom.

Another significant shareholder is the Property Fund, who holds 13.5% in Transelectrica, 15% in Romgaz and 14.98% in Transgaz.

OMV Petrom is 51.01% owned by the OMV group,. Other shareholders include the Property Fund, with a 20.11% stake.

The local government expects to obtain EUR170 million from selling stock in the three state-owned companies.