Nuclearelectrica to select intermediary for BSE listing

Nuclear power generator Nuclearelectrica has announced that it is selecting intermediaries for listing a 10 percent stake on the Bucharest Stock Exchange (BSE) as part of a larger privatization program agreed by Romania with the IMF.

The deadline for submitting the offers is September 10. Nuclearelectrica suspended the selection procedures for the initial public offering (IPO) in April due to lack of interest from intermediaries.

The Ministry of Economy holds a 90.27 percent stake in Nuclearelectrica, while the Property Fund (FP) owns 9.73 percent. The company had a turnover of RON 1.5 billion (EUR 354 million) last year and an Ebitda of RON 553 million (EUR 130 million).

Romania has agreed under a EUR 5 billion stand-by agreement with the IMF, World Bank and European Commission to sell minority stakes in five energy companies on the BSE through to 2013.

Ovidiu Posirca

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