“The idea is still on the table, but there are talks about whether to continue the listing procedures,” Suciu said.
Petrom is Romania’s largest vertically integrated oil company. Austrian OMV owns 51% of the company’s shares, while Romanian Economy Ministry and regional investment fund Fondul Proprietatea hold 20.64% and 20.11% in Petrom, respectively.
In July 2011, Romania has launched a secondary offering of 9.84% in Petrom at a price range of 0.3708 to RON0.46 lei (EUR0.087 to EUR0.1089) per share. However, subscriptions failed short of the government’s target of 80% and the authorities announced they would reschedule the sale at an unspecified date.
Petrom reported a record net profit of RON3.76 billion (EUR887 million) in 2011, up 72% on the year. Consolidated sales rose 21% to RON22.6 billion.
Tuesday, Petrom closed down 0.23% at RON0.3871 a share in Bucharest.