Minister says Fondul Proprietatea may proceed with IPO at Romanian salt company Salrom in May

Fondul Proprietatea will be able to list its 49% stake in state-owned salt company Salrom or a part of it in May of next year, as approved in a general meeting of shareholders last year, Romania's economy minister Florin Spataru confirmed during a conference on September 8.

The State owns 51% of Salrom shares and will not sell or list its shares.

"Because the simple act of listing is not enough, we also started the selection procedure for the members of the Board of Directors and the management team according to Ordinance 109 [on the professional management in SOEs]," minister Spataru said, according to Bursa.ro.

He added that the Government envisages preparing other state-owned companies to tap the capital markets for financing their investment plans. He believes that there are companies of the Romanian state that can be attractive to investors, that can attract financing to meet the investment objectives - but that need for the beginning an audit firm to evaluate their financial results.

(Photo source: Facebook/Florin Spataru)