After failed privatization in the past, Romania wants to float copper maker Cuprumin on stock exchange
Romanian copper and copper ore producer Cuprumin could be listed on the Bucharest Stock Exchange next year. The Economy Minister Constantin Nita would like to sell 15 percent in the company via an Initial Public Offering (IPO), he said in a press conference.
The money raised via this IPO would be used to buy new equipment and technologies for the state – owned company, Nita added.
The company, whose privatization failed in 2012, is already profitable and expects an even higher profit this year. “We cannot continue to sell ore or raw copper and make enough money to cover salaries. So, no more tricks, no more theft. I will not accept having a skeleton and applying some bandage on it. No. we have to start working, being efficient in this area too,” the minister said, quoted by Mediafax.
Roman Copper goes to court against Romania after failed Cupru Min privatization
editor@romania-insider.com
