Economy Ministry plans to float several utility companies

A number of stakes in state-owned utility companies, which include Transgaz, the four privatised branches of Electrica, Nuclearelectrica, and the two Distrigaz will be put up for sale through the Stock Exchange, stated the Economy Minister, Codrut Seres yesterday. "We have authorised Transgaz to organise a tender within about a month to designate a brokerage firm, in order for the company to be listed on the Bucharest Stock Exchange, with the floatation to probably take place next year," said Seres. He specified that at the end of May, he authorised Electrica to select, through a tender, the consultant, which would handle the sale of a 5% stake in the privatised branches of Moldova, Oltenia, Dobrogea and Banat branches, through a secondary public offering. Oth er stakes, of at least 5% in Distrigaz Sud and Distrigaz Nord, as well as of Nuclearelectrica, will also be sold through the Stock Exchange. "We want to use the Stock Exchange more often to privatise companies, some of which are already listed," said Seres.