Romanian state’s gas company Romgaz to offer 15% in IPO in Bucharest and London, could raise EUR 600 mln
2013-10-14 10:24:32
The Romanian State is set to offer 15 percent of its biggest natural gas producer Romgaz for sale when the company debuts on the London and Bucharest stock exchanges this year.
The Romgaz stock market listing, part of privatization plans agreed with Romania’s international lenders, could raise as much as EUR 600 million, according to officials.
In a recent statement, Energy Minister Constantin Nita said the company was “the jewel of the crown of the Romanian energy sector”.
Goldman Sachs International and Erste Group Bank AG have been named by the company as joint global coordinators and bookrunners for the initial public offering (IPO).
On the home front the IPO will be run by BCR and SSIF Raiffeisen Capital & Investment SA.
In a statement, the company said it planned to apply for the shares to be traded on the Bucharest Stock Exchange and for global depository receipts (GDRs) to be admitted to the London Stock Exchange. It expects the offer will be finished by the end of the year.
The sale is part of privatization plans agreed by Romania and the International Monetary Fund, among the lenders to have funded aid deals for the country since 2009 following the country’s entry into the EU in 2007.