The authorities will file all required paperwork with the securities commission in March, the document, obtained by Mediafax, noted.

Also, Transgaz will be placed under private management prior to the launch of the secondary offering, according to the document.

Transgaz was listed on the Bucharest Stock Exchange at the beginning of 2008. The Economy Ministry owns a 73.5% stake, investment fund Fondul Proprietatea has almost 15% of its shares and the rest is distributed among minority shareholders.

The authorities hired a consortium comprising Raiffeisen Capital & Investment, BT Securities and Czech brokerage Wood& Co to assist with the secondary offering in Bucharest.