Economy Minister: We want to organise Cuprumin's IPO next year

Economy Minister: We want to organise Cuprumin’s IPO next year

Newsroom 23/05/2014 | 10:52

Constantin Nita, minister of Economy, said on Thursday that his ambition is to revive mining company Cuprumin Abrud and to list it next year on the stock exchange.

The government wants to sell 15 percent of Cuprumin shares and secure the financing needed for investments in technology.

“Next time, in the near future, I will stop at Cuprumin Abrud, a unit I’m ambitious to revive. It’s already registering a profit and certainly this year the profit will increase. All the money it’s making, according to the new law, will be used for investing in technology. So, our desire is to revive this company and if things evolve positively, next year I want to list it on the stock exchange. I am a believer in transparent transactions on the exchange, that’s how we did it last year for energy and we had success so I am hoping we will be successful in this sector also”, according to Constantin Nita.

The minister added that his intention is to sell only 15 percent of Cuprumin shares.

“My intention is to list 15 percent of the company next year and the money we get from that we will also use for technology. We can’t just sell minerals or brute copper and finance our expenses and that’s it. So, no more tricks, no more stealing. I will not accept a shell that I have to bandage. No, we have to get to work to achieve peak efficiency in this field”, Nita underlined.