BCR shareholders to consider floatation

The shareholders of Banca Comerciala Romana (Romanian Commercial Bank – BCR), the largest Romanian bank, will debate during the EGM at the end of the month the possibility to have the bank go public, or, to simply put it, the floatation. Eighth order of business on the EGM agenda called for April 23, 2004 is “analysing the proposal to turn BCR into a publicly listed company”. “It’s just a proposal. We will consider this proposition made by the financial investment companies (SIF, which hold 30% in BCR together i.e.) and see where we go from there. The privatisation of the bank proceeding by a floatation is an option,” Nicolae Danila, BCR’s president told Ziarul Financiar. BCR’s privatisation began by the sale of 25% to EBRD and IFC last year, a deal to be completed some time soon. ZF