Romgaz, listed on the Stock Exchange
The first major Romanian state – owned company was listed on Tuesday on the London and Bucharest stock exchanges.
România Internațional, 13.11.2013, 13:24
Prime Minister Victor Ponta opened the London Stock Exchange trading session on Tuesday, the first day of trading for the Romanian company Romgaz. On this occasion he said that was a landmark moment for Romania, given that it was for the first time that a state-owned company was listed internationally. The stocks of Romgaz, Romania’s largest natural gas supplier, were listed concurrently in Bucharest and the British capital city, putting Romania on the map of international stock investors and giving fresh impetus to trading in the Romanian market. Here is Mariana Ciurel, Head of Marketing and International Relations at the Bucharest Stock Exchange:
“The first day of trading for Romgaz shares brought transactions in the Stock Exchange up to a daily total of nearly 110 million lei, that is 2.7 times more than the average transaction value for this year.”
In turn, the CEO of the London Stock Exchange Xavier Rolet said he was honoured to have his institution host the first Romanian privatization through international listing, and added that the Stock Exchange listing offered substantial development opportunities. The transaction value places Romgaz significantly ahead of other comparable companies from Central and Eastern Europe. It also proves, according to experts, that it is possible for a Romanian state-owned company to reach the highest international standards, that foreign investors have confidence in the Romanian economy and that the Romanian energy industry has a huge potential. In London, PM Victor Ponta announced more operations of this kind:
“Based on this success story, we hope to be back here next year with Hidroelectrica, Electrica and other Romanian public companies, and I hope this will give foreign investors a proof that we are ready to tap on potential that has not been used so far.”
Against this background, Romgaz has announced expansion plans for next year, when it intends to bid for the concession of new hydrocarbons exploitation areas.
