Deputy Prime Minister Oana Gheorghiu said that during Thursday's government meeting she presented an exploratory list of state-owned companies with potential for stock-exchange listing.
She clarified this after being asked whether CEC Bank and Bucharest Airports National Corporation are being considered.
"It is only a proposal - an exploratory list, not a decision or political commitment. At expert level, together with the National Agency for Monitoring and Assessing Public Enterprises' Performance, we reviewed which companies could be suitable for listing, following discussions with capital-market specialists. The next step requires feasibility studies to determine eligibility. A listing is a complex process that must be carried out by the relevant experts," Gheorghiu said at a press conference at Victoria Palace.
The information note presented to the government includes several state-owned companies that would require 6 - 12 months of preparation for a potential listing: CEC Bank - IPO, mixed offer (new shares + state stake); Constanta Maritime Ports Administration - FP sells 20% stake / mixed offer; Bucharest Airports National Corporation - FP sells 20% stake / mixed offer; National Salt Corporation Salrom - FP sells its 49% stake / mixed offer; Romanian Lottery - mixed offer (new shares + state stake); National Printing Corporation - IPO, mixed offer; Cuprumin - Rosia Poieni Deposit - strategic partnership (JV), not a BVB IPO; Romarm / Cugir Mechanical Plant - IPO conditional on legislative changes; Romanian Post Company - IPO - FP sells 6.48%, or mixed offer pending feasibility study
Regarding the NRRP milestone on restructuring state-owned enterprises, Gheorghiu said that Romania will propose restructuring Electrocentrale Group, Tipografica CFR and Telecomunicatii CFR.
"The milestone covers three restructured companies. It was renegotiated, and we will meet it. The two transport companies will be merged into larger entities to reduce costs by eliminating duplicate management and administrative structures. Electrocentrale Group is a small, non-strategic company whose revenues mainly come from property rentals," she added.
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