“We support the secondary listing on the London Stock Exchange as we see the benefits of a GDR program in terms of improved visibility for OMV Petrom and improved overall trading liquidity, which will have a positive impact for all shareholders,” OMV spokesman Robert Lechner said Thursday.
Lechner added he is unable to provide further details.
OMV owns 51.01% in OMV Petrom, while investment fund Fondul Proprietatea (FP.RO) owns 19%.
Fondul Proprietatea, which is also listed in London, released a separate statement Wednesday announcing it seeks to reduce its interest in Petrom to below 15% and one of the options considered is a public offer on a foreign market, followed by a listing of global depository receipts (GDRs) in London.
Petrom stockholders will convene on September 22 to decide if the company will seek an admission on London stock exchange’s main market by issuance of global depository receipts by the end of 2016.