Nuclearelectrica, operator of the country’s sole nuclear power plant in Cernavoda, didn’t give a reason for the delay. According to market participants, brokerage firms are reluctant to attend the auction because of some of the company’s requirements.
The initial deadline for the selection process was September 10.
This is Nuclearelectrica’s second attempt at hiring a broker for its IPO, after a first selection procedure was cancelled in May due to lack of offers.
Nuclearelectrica is 90.27% owned by the Economy Ministry, while investment fund Fondul Proprietatea (FP.RO) holds the remaining stake.
The ministry plans to sell a 10% stake in the power company by the end of March 2013, three months later than initially estimated.
Nuclearelectrica runs two reactors of 700 megawatts power each, covering around 19% of Romania’s electricity production. The government wants to build two additional nuclear reactors with similar capabilities in Cernavoda.