OMV announced its decision not to participate in the OMV Petrom secondary public offering (SPO) which is expected to happen in the coming months. The Ministry of Economy has the plan to sell a 9.84 percent stake via the Bucharest Stock Exchange.
As announced by the Austrian company officials, OMV has already control of the company and an increase in the stake would therefore not change the level of influence in decision making.
“We decided not to make an offer for the stake in the upcoming secondary offering. Petrom is in excellent shape and definitely a highly attractive investment. We are looking forward to more liquidity on the Bucharest Stock Exchange and an increased interest of institutional and retail investors in the Romanian capital market,” said Gerhard Roiss, CEO and chairman of the executive board of OMV.
Currently, OMV owns 51 percent of OMV Petrom.