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August 15, 2022

Listing of FP portfolio companies on BVB, postponed

The Senate rejected yesterday President Traian Basescu’s request to speed up the procedures needed in order to list on the Bucharest Stock Exchange the companies that are part of the Property’s Fund (FP) portfolio, a fund whose majority shareholder is the Romanian state, Mediafax informs. “This procedure should have been completed on December 31, 2008 at the latest,” the Head of State’s request reads. The Lower Chamber is the next decisional body. Under the law which led to Fondul Proprietatea being established, the state committed itself to transfer to the Fund shares in the following companies; OMV Petrom (10 pc), Transelectrica (15 pc), Transgaz (15 pc), Romgaz (15 pc), Distrigaz Sud (12 pc), Distrigaz Nord (12 pc), Hidroelectrica (20 pc), Nuclearelectrica (20 pc), CEC (9.9 pc) Loteria Romana (20 pc), Romtelecom (20 pc), Posta Romana (25 pc), Turceni Energy Complex (15 pc) Craiova Energy Complex (15 pc), Rovinari Energy Complx (15 pc), as well as a 20 pc stake in the “Henri Coanda International Airport” National Company (20 pc) and Alro (18.17 pc). Also, Steven Ausnit, the son of Max Ausnit, says he is content with the compensations he received from the Romanian state, despite the declining FP shares, and lawyers for the heir of the late industrialist are in favour of the Fund being listed on a foreign exchange. Ausnit is still entitled to get compensations worth RON 126 M in FP shares on account of the stake held in Uzinele Metalurgice Titan Nadrag Calan.

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