The company expects revenues will drop 14.4% to RON2.63 billion, while costs are seen down 12.6% to RON2.57 billion, according to Transelectrica’s revenue and expenditure budget released Monday.
Transelectrica has scheduled investments of RON247.7 million in 2012 to extend its network and build new units. For 2012-2014, the planned investments reach over RON1.1 billion.
Romanian Economy Ministry owns 73.68% in Transelectrica. On March 14, the ministry launched a secondary offering of a 15% stake in Transelectrica at a price range of RON14.9 to RON19.2 per share.
The public offering will end on March 27 and will be deemed successful if at least 70% of the shares are sold. So far, subscriptions amount to 55.21% of the shares.
Monday, Transelectrica closed up 0.5% at RON16.1 a share in Bucharest. (EUR1=RON4.3691)