Government approves 10% sale in Romania’s Nuclearelectrica on the stock market, wants EUR 78 mln

The Romanian Government approved on Wednesday (June 19) the conditions for selling a 10 percent share in Nuclearelectrica on the stock exchange, through a capital increase. The selling price will be between RON 11.2 and RON 15 per share. According to the Minister Delegate for Energy, Constantin Niţă, the government hopes to get between EUR 66 million and EUR 78 million (RON 300 - 350 million) via the offer. Investors may subscribe for Nuclearelectrica securities between July 8 and July 23, 2013, according to Gabriel Dumitrascu, head of theOffice of State Ownership and Privatization in Industry. Nuclearelectrica’s listing on the Bucharest Stock Exchange (BVB) is part of the agreements made with the International Monetary Fund (IMF). The Underwriting Syndicate for the company’s listing is composed of Swiss Capital and BT Securities. Nuclearelectrica runs the Cernavoda nuclear power plant, which produces around 20 percent of Romania’s energy. The Romanian state is the major shareholder of the company with 90.28 percent of the shares, while Fondul Proprietatea holds the rest of 9.72 percent. Earlier this year, the Romanian state sold the 15 percent share package in Transgaz, for EUR 72 million, during a secondary public offering. Irina Popescu, irina.popescu@romania-insider.com