Romanian Romgaz Starts IPO

Politics ♦ Published: October 21, 2013; 06:00 ♦ (Vindobona)

Tomorrow, Monday, the Romanian government sells a 15% stake in Romgaz via the stock exchange. In the last months, the IMF has urged Romania to accelerate the privatization policy.

Romanian Romgaz Starts IPO / Picture: ©

Tomorrow, BSE (Bucharest Stock Exchange) carries out the biggest IPO in its history. Romgaz, the state-owned producer of natural gas, will be partly privatized. In total, the Romanian government sells a 15% stake. The Romanian state will keep a 70% stake in Romgaz. Moreover, the state-owned property restitution fund holds a 15% stake.

Romania´s government expects to raise…