A consortium comprising of brokerages SSIF Swiss Capital (syndicate leader) and BT Securities will handle the initial public offering (IPO) of Nuclearelectrica, the nuclear power producer, according to a statement of the Ministry of Economy.
The tender attracted a second bidding consortium of brokerages WOOD & Company Financial Services and SSIF Intercapital Invest.
Earlier this year, Swiss Capital was part of the consortium that intermediated the secondary public offering of Transelectrica, the grid operator.
Romania pledged to list several state-owned energy firms on the Bucharest Stock Exchange under a EUR 5 billion stand-by agreement with the IMF, European Commission and World Bank.
The Nuclearelectrica listing will be carried out through a 10 percent share capital increase. The IPO is valued at EUR 118 million, according to estimates by the Property Fund, which holds a 9.7 percent stake in the nuclear company. Market players say the listing could take place in the first half of 2013.
Nuclearelectrica reported a 2011 turnover of RON 1.5 billion (EUR 353 million), while the net profit amounted to RON 95 million (EUR 22 million).
Ovidiu Posirca