© ICIS HEREN - Romania lists grid operator Transelectrica
The Romanian government began its initial public offering of 15% of transmission system operator (TSO) Transelectrica on Wednesday (14th March).
Just under 11m shares have been offered, which could raise between New Lei 163m (€37m) and New Lei 211m (€48m), based on the price range for each share set between New Lei 14.90 - 19.20. The shares would be offered on the Bucharest stock exchange in two tranches, with 90% aimed at large investors buying more than 500,000 and the remainder at small investors.
Romania has come under pressure to liberalise its energy markets, after plans to restructure state-owned generation collapsed in October (see EDEM 10 October 2011). The Romanian energy ministry has already announced plans to list smaller distribution firms (see EDEM 1 February 2012). The offering lasts until 27 March.
(THE ICIS HEREN REPORTS - EDEM 16052 / 14 March 2012)

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