State wants to sell minority stake in Bucharest airports company

Romania’s Transport Ministry wants to sell on the Bucharest Stock Exchange a minority stake in the Bucharest Airports National Company and the Maritime Ports Administration National Company through initial public offerings. The state plans to sell stakes of 20-25% in the two companies, according to a Government decision launched in public debate, reports local Agerpres. The money raised in the IPOs should be used to capitalize these companies and finance their investment plans. However, it remains to be seen if the new Government will continue these initiatives. The Social Democratic Party’s governing program doesn’t mention anything about listings. Instead, PSD plans to create a sovereign investment fund that would reunite the state’s majority and minority stakes in local companies. The Bucharest Airports National Company was created in 2010 and manages the Henri Coanda International Airport in Otopeni, and the Baneasa Airport. The Maritime Ports Administration National Company manages the Port of Constanta. Fondul Proprietatea holds minority stakes in both companies. editor@romania-insider.com