They said the stock will be sold on a first-come, first-served basis, depending on volume and price.
“Corporate investors will be allocated around 80%-90% of the stake, while the reminder will go to small investors,” the people told MEDIAFAX.
The secondary public offering will end by late July, they added.
Romania, through the Economy Ministry, holds 20.6% in Petrom and estimates it will obtain around EUR552 million from selling a 9.84% stake.
The authorities in Bucharest selected a consortium led by Renaissance Capital to broker the deal.
Last month, Romanian securities commission approved the preliminary prospectus for the offering, while the final prospectus is likely to be submitted early next week, according to the people familiar with the matter.
OMV Petrom is 51.01%-owned by Austrian OMV. The group recently announced it wouldn’t participate in the secondary public offering.