Petrom musters up courage for floatation

The management of Societatea Nationala a Petrolului (National Oil Company- SNP) Petrom is preparing for listing its shares on the Stock Exchange.

The General Assembly of Shareholders (AGA) is to make a decision in this regard later in April. “The AGA that convened in March discussed the SNP’s flotation project, but decided to set the time for such action in April’s meeting,” company officials told Ziarul Financiar.

Petrom’s listing on Bucharest Stock Exchange was repeatedly requested by the investment funds operating on the Romanian capital market, but the company management and the Ministry of Industry and Resources (MIR) were rather reluctant to the idea.