The offering will probably start March 5 and will close at the end of the month, said Dan Weiler, executive manager of BCR’s corporate finance & investment banking division.
Romanian Economy Ministry owns 73.68% in Transelectrica. The ministry hired a consortium made of BCR, Intercapital Invest and Swiss Capital to assist with the secondary offering in Bucharest.
Weiler said the consortium is planning roadshows in London and two other European cities for the sale.
Transelectrica reported a net profit of 90.27 million lei (EUR21.3 million) in 2011, tenfold higher on the year, on total sales of RON2.9 billion.
At around 12:40 in Bucharest, Transelectrica traded down 2.26% at RON17.7 a share, amid a slightly rising market. (EUR1=RON4.3473)