Goldman Sachs consortium to intermediate Romgaz listing in Romania

A consortium of Goldman Sachs, Erste, BCR and Raiffeiesen Capital&Investment has won the bid to list state company Romgaz on the Bucharest Stock Exchange. Intercapital Invest is also part of the winning consortium, but as a subcontractor.

The consortium competed against offers from JP Morgan - UniCredit CAIB - Alpha Finance - Alpha Bank - BT Securities and Citibank - Societe Generale - BRD - ING Bank. The winners received 97 out of 100 points and were selected after opening the financial offers, meaning the commissions asked by brokers. The initial public offering (IPO) for 15 percent in Romgaz could start in June or September this year, according to previous announcements. The IPO could become the largest in the history of the Bucharest Stock Exchange, with analysts estimating it could reach EUR 300 million. The Romgaz listing is among the pledges made by the Government to the International Monetary Fund (IMF). The country will also sell share packages in Hidroelectrica, Nuclearelectrica, OMV Petrom, CFR Marfa and Tarom. The Economy Ministry owns 85 percent in Romgaz, while the Fondul Proprietatea holds the remaining 15 percent of shares. editor@romania-insider.com (photo source: Agerpres)