The Romanian Government wants to sell shares issued by the state-owned companies on the capital market.

UniCredit Bank S.A.
Summary: 
Hidroelectrica S.A., Complexul Energetic Oltenia S.A., C.N. Aeroporturi Bucuresti S.A. and C.N. A.P.M. Maritime S.A. Constanta are on the Government’s list for the listing on the stock exchange.
Wed, 05/10/2016

On October 4, 2016, the Romanian Government published a Memorandum regarding the need to sell the state-owned stakes in certain companies. Based on this document, the government has agreed on the diversification of the ownership structure in these companies and the selling of minority stakes by the State in order to increase companies’ efficiency and profitability.

Subsequently, the State has already identified some of the state-owned companies that will start selling shares in the capital market as presented in the following list:

  • Hidroelectrica S.A.: IPO for the capital increase with 15%;
  • Complexul Energetic Oltenia S.A. : IPO for the capital increase with 15,29%;
  • C.N. Aeroporturi Bucuresti S.A.: capital increase by 20 – 25 percent by issuing and selling new shares on the Bucharest Stock Exchange;
  • C.N. A.P.M. S.A. Constanta: capital increase by 20 – 25 percent by issuing and selling new shares on the Bucharest Stock Exchange.

According to the Memorandum, the public institutions (ministries) shall take measures to speed up the development and the performance of sales strategies for the state-owned companies’ stakes in the capital market.

Impact on investors: The Romanian Government’s intention to diversify the ownership structure of the state-owned companies may support the development of the local capital markets.