11.84 percent of OMV Petrom shares might be put up for sale

The Ministry of Economy, Trade and the Business Environment (MECMA) might put up for sale a package of 6,706,662,427 shares accounting for 11.84 percent of the share capital of SC OMV Petrom, according to a draft resolution published on the MECMA site.

According to the substantiation note, the share package that can be put up for sale through mechanisms specific to the capital market was established considering the fact that, with OMV Petrom, from a share package accounting for 20.62 percent of the share capital, the Ministry of Economy will manage a share package accounting for 8.8 percent of the share capital, of which a package of shares accounting for up to 8 percent of the share capital will be sold to the employees.

Although the measures suggested do not have a direct impact at a macroeconomic level, by selling shares through methods specific to the capital market, they also consider beneficent consequences at a macroeconomic level, referring to the stimulation of the investors on the regulated capital market in Romania.
The public offer for sale will be carried out through the agency of an authorized intermediary, selected according to the law, under the terms established by MECMA. The intermediary will be selected by means of a tender, considering criteria referring to the quality and costs of services.

11.84 percent of OMV Petrom shares might be put up for sale
The Ministry of Economy, Trade and the Business Environment (MECMA) might put up for sale a package of 6,706,662,427 shares accounting for 11.84 percent of the share capital of SC OMV Petrom, according to a draft resolution published on the MECMA site.

According to the substantiation note, the share package that can be put up for sale through mechanisms specific to the capital market was established considering the fact that, with OMV Petrom, from a share package accounting for 20.62 percent of the share capital, the Ministry of Economy will manage a share package accounting for 8.8 percent of the share capital, of which a package of shares accounting for up to 8 percent of the share capital will be sold to the employees.

Although the measures suggested do not have a direct impact at a macroeconomic level, by selling shares through methods specific to the capital market, they also consider beneficent consequences at a macroeconomic level, referring to the stimulation of the investors on the regulated capital market in Romania.
The public offer for sale will be carried out through the agency of an authorized intermediary, selected according to the law, under the terms established by MECMA. The intermediary will be selected by means of a tender, considering criteria referring to the quality and costs of services.

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