Romania plans to launch an initial public offering in a lignite-fired energy holding in 2013, hoping to list 15% and raise EUR400m, Constantin Balasoiu, one of the directors of power holding Oltenia was quoted saying by state news agency Agerpres, Reuters reported.
Under the country's EUR5bn aid deal led by the International Monetary Fund, Romania has merged its lignite and hard coal mines with the power plants that burn coal and created two larger electricity holdings in a bid to make them more efficient and secure funding from banks for investment. It has also committed to an ambitious plan to list minority stakes in its predominantly state-owned energy companies, but has repeatedly failed to successfully sell these.