Romania’s Government has started the proceedings to list a 20-30% stake in the Bucharest Airports National Company, through an initial public offering.

The Romanian state wants to launch a part of the shares on the foreign market. It will use the money to develop the company, said Prime Minister Victor Ponta.

“The company has profit, is developing really fast, and we started the proceedings for an IPO. The idea is to raise capital, rather than to take money for the budget,” Ponta said, cited by local Mediafax.

The Government will follow the listing pattern of companies such as Romgaz, Transgaz or Transelectrica. The Prime Minister said that it will be a double listing, but didn’t say if the listing on a foreign market could take place in London.

The Bucharest Airports National Company started operations in February 2010, bringing together the two main airports in Bucharest, Otopeni and Baneasa.

editor@romania-insider.com