The Ministry of Economy plans to sell 15% of Transelectrica inJune, 15% of Transgaz in September, while the initial publicoffering (IPO) for 15% in Romgaz could occur in December.
The state is also preparing to sell 9.84% in OMV Petrom, thoughno specific date has been revealed yet.
The sale of the four stakes could bring the Economy Ministry overone billion euros, considering the prices at which Transgaz,Transelectrica and Petrom are currently traded on the StockExchange and analysts' evaluations for Romgaz, a company held byFondul Proprietatea (Property Fund).
The calendar of public offerings is to be found in a Governmentdocument, quoted by Mediafax. The sale of these stakes was approvedby the Government as early as last year (the sale of 9.84% inPetrom was approved in May, and the sale of the three other stakesin September).
The offerings come after the shares of companies in the energysector recorded significant rises in the past year, with shareprices outpacing those obtained by the state in 2006 and 2007 whenit sold 10% of Transelectrica and 10% of Transgaz on the StockExchange.
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