BUSINESS

Secondary offering of Transelectrica and Transgaz may not be possible this year

The Office of State Shareholdings and Industry Privatisation (OPSPI) estimates to launch at the beginning of next week the call for the selection of the company that will intermediate the listing on the Bucharest Stock Exchange (BVB) of 15 per cent of Transelectrica (TEL) shares and to actually select it in October, Office head Victor Cazana said yesterday, according to Mediafax.

He also said the secondary offering for the sale on BVB of additional stocks of 15 per cent each of Transelectrica and Transgaz might not be possible this year, but that OPSPI would try to complete the offering before the end of December. BVB CEO Valentin Ionescu said that, in order to be successful, secondary offerings of Transelectrica and Transgaz shares – both companies being already listed on the stock exchange – should come at a discount.

The Government has promised to the IMF to sell 15 per cent of Transelectrica, Transgaz and Romgaz and a minimum of 10 per cent of Hidroelectrica and Transelectrica, 10 per cent of Petrom, 20 per cent of CFR Marfa and up to 20 per cent of Tarom.

New rules for wind mills

State-owned company Transelectrica (TEL) is ‘more drastic’ in issuing permits for the implantation of wind turbines because of the very big developers’ demand which exceeds grid connection capacity, said company General Manager Horia Hahaianu. According to the estimations of the Romanian Association for Wing Energy which includes wind energy project developers, banks, electricity traders, consultancies and law firms, the installed wind energy production capacity could reach 1,000 MW by the year end, which is the double of the figure for December 2010.

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