Dumitrascu: Romgaz might be dually listed in November, in Bucharest and in London or Warsaw
Romgaz might be dually listed in November, on the market in Bucharest and in London or Warsaw, Gabriel Dumitrascu, director of the Privatization and Administration Directorate in the Department for Energy, told a specialist conference on Thursday.
„With Romgaz things are on schedule, all the previous procedures are fulfilled. In November we are resolute to launch the Romgaz listing, and here things are a little simpler, at least on the capital market Romgaz is perceived as a very good placement both for the Romanian and the international investors. The sum of money we are expecting for the 15 percent stake is a little too large for the possibilities of the capital market in Romania„, said Dumitrascu.
According to him, the sum of money amounts to over 600 million euros.
„Please consider the fact that the Romgaz listing comes one and a half months or two months after the listing of Nuclearelectrica, then we think that the success of the listing depends on a dual listing and we examine two options, namely a listing on the Bucharest Stock Exchange and an alternative listing either in London or in Warsaw and we are at the stage at which we are making context and strategic examinations,’ explained the official of the Department for Energy.
Romgaz is a joint stock company of national interest, in which the state is a majority shareholder and is represented by the Ministry of Economy. The above-mentioned company carries out geological research with a view to discovering new gas deposits, produces methane gas by exploiting the deposits in the portfolio of the company, stores gas underground.
Since 2013 Romgaz has expanded the field of activity by assimilating the thermoelectric power station at Iernut, with an installed power of 800 MWh, thus becoming a producer and supplier of electric energy.(National News Agency AGERPRES)