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State to sell stakes of 15% in Transgaz, Transelectrica and Romgaz

According to media sources, citing a draft for a Government decision, the state intends to sell additional stakes of 15% in Transgaz (TGN) and Transelectrica (TEL) on the stock exchange.

Also, the state intends to sell 15% of national gas producer Romgaz through an IPO. After the selection of an intermediary, the process to sell these stakes would stretch between at least four months for TGN and TEL and roughly 6-8 months for preparing Romgaz IPO.

We view the news as positive on the longer run as a larger free-float should improve liquidity for both Transgaz and Transelectrica, while on the short run we view it as neutral.

Sursa: http://www.rciro.ro

Tags: romgaz transelectrica transgaz stakes state

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