Romanian plans to raise between $800 million and $1.0 billion (576.3-720.4
million euro) in the initial public offering (IPO) of state-owned power supplier
and distributor Electrica, a government draft decision showed.
The
country plans to increase the share capital of Electrca by 105% and list the new
shares on the Bucharest Stock Exchange and the London Stock Exchange, the draft
document showed.
The IPO is part of the Romanian government's
privatisation strategy agreed with the International Monetary Fund.
In
January, minister delegate for energy Constantin Nita said Romania will list
Electrica on the Bucharest Stock Exchange and the London Stock Exchange in
June.