Romania's top oil and gas group OMV Petrom said on
August 19 it plans to list its shares on the London Stock Exchange
via global depository receipts (GDRs).OMV Petrom's shareholders will
vote on the proposal at an extraordinary general meeting scheduled
forSeptember 22, the company said in a statement filed with the
Bucharest Stock Exchange.
GDRs, which representinterests in
existingshares,are intended to be admitted to listing on
the official list of the United Kingdom Financial Conduct Authority
and to be admitted to trading on the London Stock Exchange's main
market for listed securities, such approval being valid until
end-2016, the company said.
OMV Petrom, majority owned by Austria's OMV,is Romania's
largest oil and gas group. Its shares were trading 0.18% up
at0.3797 lei ($0.095/0.086 euro) by 0907 CET on the Bucharest
Stock Exchange.
In a separate announcement, Romanian investment fund Fondul
Proprietatea [BSE:FP], which is also listed on the London Stock
Exchange,said on Wednesday it is
consideringreducingits stake in OMV Petromto below
15% in a bid toincrease value for shareholders and
improveportfolio liquidity.
Several other Romanian companies, like state-controlled natural gas
producer Romgaz [BSE:SNG] and power distributor and supplier
Electrica [BSE:EL],are alsolisted on the London
Stock Exchange.
Source:
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