Romgaz plans RON 0.3 mln share capital increase

Newsroom 14/01/2013 | 12:30

The increase of the share capital of Romgaz by RON 354,580 (EUR 80,920) through the issuance of 35,458 shares is up for voting during the General Shareholders Meeting held by the gas producer on February 7.

The share capital of Romgaz is set to reach RON 383 million (EUR 87 million), following this procedure.

Out of the newly issued shares, the largest part will be owned by the Ministry of Economy. The Property Fund is set to get 5,316 shares.

Romgaz remains state controlled, with the Ministry of Economy holding around 32.6 million shares, while the Property Fund has over 5.7 million shares.

Romgaz is one of the state-owned enterprises in the energy field, which should be listed on the Bucharest Stock Exchange this year, along with hydroelectric producer Hidroelectrica and nuclear producer Nucleaelectrica.

Erste analysts reckoned the initial public offering (IPO) of Romgaz is feasible this year. This IPO may represent a turning point for the Bucharest Stock Exchange, as it may jump from the frontier market status to the emerging market category, according to Erste Group.

Ovidiu Posirca