Romanian power grid Transelectrica (TEL.RO) is considering listing another 10% of its shares on the Bucharest Stock Exchange next year in the spring, news agency Mediafax reported the head of the company's business development department, Razvan Purdila, as saying Tuesday.
"We already have the agreement of the company's majority owner, namely the Ministry of Economy and Finance, and we are considering listing about 10% of the shares next year spring, if market conditions are suitable," Purdila said.
In 2006, Transelectrica listed a 10% stake on the exchange and said at the time it planned to list another 10% in 2008.
However, the company has now postponed the move until next year due to the poor conditions on the market, Purdila said.
The Finance Ministry owns 73.7% of the company's shares, while investment fund Fondul Proprietatea owns 13.5%.
Translectrica reported a first-half net profit of 115.5 million lei ($47.32 million), more than double the RON54.5 million in the year-earlier period.
At 1048 GMT Tuesday, Transelctrica shares were up 1.9% at RON21.9 on the Bucharest Stock Exchange.