Fondul Proprietatea, which is also listed in London, said in August 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.
Austrian oil and gas group OMV, Petrom majority shareholder, said it supports a secondary listing on the London stock exchange.
“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.
OMV owns 51.01% in OMV Petrom, while investment fund Fondul Proprietatea (FP.RO) owns 19%.