“The most recent and likely timetable indicates that the IPO will unfold between June 16 and June 25, and the shares will be listed on July 3,” the people told Mediafax reporters.
Electrica is fully controlled by the state, through the Economy Ministry.
The ministry plans to sell a 51% stake in Electrica this month via a dual initial public offering in Bucharest and London. The authorities hired a consortium comprising BRD, Citigroup, Raiffeisen Capital&Investment, Societe Generale and Swiss Capital to assist with the IPO.
Romania hopes to raise over EUR400 million in the sale.