Govt pushes for listing of 94 companies

The government is pushing to have no less than 94 of the companies in which it holds stakes listed on the Bucharest Stock Exchange by selling share packages of 5% in each to investors on the capital market. The move comes after four years in which no state-owned companies were listed. The listing should take place before the Property Fund is established. Prime Minster Calin Popescu Tariceanu said on Monday that the Property Fund would be “the biggest and most stable investment fund ever created in Romania and the biggest listed fund in Eastern Europe”. There are 94 companies in which the state still holds stakes and they will contribute to the establishment of this fund. These companies include Banca Comerciala Romana (BCR), Casa de Economii si Consemnatiuni (CEC), Petrom, Loteria Romana (Romanian Lottery) and the Electrica companies. The establishment of the fund could be preceded by the listing of 5% in each of the 94 companies following a draft government decision. ZF