“Romgaz is a several million euro public offering. Though I believe a double listing is not necessary, it cannot be ruled out,” said Dan Weiler, executive corporate director with BCR’s investing banking division.
The Economy Ministry, majority owner of Romgaz, selected a consortium comprising BCR, Austrian Erste Bank AG, Goldman Sachs and Raiffeisen Capital&Investment to broker the sale of a 15% stake in the natural gas producer. The initial offering is estimated at some EUR300 million, which will make it the biggest sale on the Bucharest Stock Exchange.
In May, a government official said London and Vienna are two markets considered for simultaneously listing several state-owned energy companies, including Transgaz (TGN.RO), Romgaz, Hidroelectrica and Nuclearelectrica.
However, local market representatives oppose such a decision, as it would not support the Bucharest stock exchange development.