BRD - Groupe Société Générale and Swiss Capital will broker the primary public offering for 12 percent in Romanian energy producer Complexul Energetic Oltenia. The consortium recently won the bid to broker the stock exchange listing, after being the only contestant in the race.

Energy producer Complexul Energetic Oltenia will be privatized by a share capital increase of 15.29 percent and the listing of the freshly issued shares, according to the Economy Ministry, which is the majority shareholder. Fondul Proprietatea, a significant minority shareholder in the company,will be allowed to subscribe 3.29 percent of the shares, in order to keep the same level of participation in the company. Fondul Proprietatea owns 21.53 percent of Complexul Energetic Oltenia, while the Economy Ministry, 77.17 percent.

The company now up for listing was created last year by merging several regional energy producers: Craiova, Rovinari and Turceni, and a coal company, Societatea Nationala a Lignitului Oltenia.

The listing of 15 percent in the company is part of Romania's pledges to the IMF,which also includes selling the stake in the company to a strategic investor by October this year.

editor@romania-insider.com