The Romanian government could sell some of its holdings in several companies listed on the stock exchange, such as Petrom and Transelectrica, or in companies which will be listed, which include Romgaz, subsidiaries of Enel and E.ON, and will hold the option to sell the shares in listed energy companies, and expects to make 1 billion Euros in the process. One of the companies listed on the Bucharest Stock Exchange that the state has a stake in is Petrom (SNP), and the government intends to sell 12.64% out of its total stake of 20.64% held by the Ministry of the Economy, with an estimated value of 2.43 billion lei, according to an official document presented by Mediafax shows.
The document says that an investment fund which will be controlled by the Ministry of the Economy will be set up as an alternative source of revenue. The fund will manage the assets of the state in the industry and energy sectors, will participate in the financing of investment projects, and will sell the assets of the state.
Right now, 8.24% of the shares of OMV Petrom are listed on the stock market. Petrom currently has a market value of 19.995 billion lei, at yesterday"s closing price of 0.353 lei/share.
Other companies included on the list are Conpet (in which the Ministry of the Economy owns 58.72% of the stock and wants to sell 7.72% on the stock market for 21.3 million lei), Transelectrica (for which it plans to sell 15% of the total 73.68% it owns for 219.9 million lei) and Transgaz (intention to sell 15%, for 440.2 million lei, out of the 73.51% stake).
21.22% of Conpet (COTE) is listed on the Bucharest Stock Exchange, and the company has a market value of 269,249,120 million lei, at a price of 31.1 lei/share, while Transelectrica (TEL) has a free float of 12.81% and a market value of 1.554 billion lei, at a price of 21.2 lei/share.
Transgaz (TGN) has a free
