Romania pledged to the International Monetary Fund to list Romgaz on the Bucharest Stock Exchange in November, after it kept delaying the process for several years.
End-July, Romania’s Economy Ministry said it wants to obtain EUR600 million from selling a 15% stake in Romgaz and is considering floating the company on both the Bucharest Stock Exchange and on a foreign exchange, as the local exchange could be too small to raise the desired amount.
Romgaz is majority owned by the economy ministry. The company reported a net profit of RON1.24 billion in 2012, up 20% on the year, on total sales of RON3.84 billion.