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Transelectrica listed on Stock Exchange

Vineri, 1 septembrie 2006, 0:00

Romanian electricity company Transelectrica was listed at the Bucharest Stock Exchange Tuesday, August 29, after more than a year and a half of preparations that laid the ground for a new phase in the privatization of the Romanian energy sector.

At the listing event, Economy minister Codrut Seres said another energy company, Transgaz, will follow suit next year. He said Transelectrica would use the funds obtained through stock transactions to support projects aimed at cutting electricity prices in the coming years.

He also dismissed that he bought Transelectrica shares, saying that while he is a stock player he would not buy states in any of the companies in the Economy Ministry portfolio, which would bring him in conflict of interests situation.

Five of the eight regional Electrica electricity distributors in Romania were privatized so far.

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