Bids for intermediating the listing of Romgaz can be submitted until December 29th

Brokerage firms that wish to intermediate the listing of "Romgaz" Mediaş on the BSE, have until December 29th to submit their bids, according to an announcement by the Ministry of the Economy.

Through the Office For The State's Interests and Industrial Privatization (OPSPI), the government controls a stake of 85% in Romgaz. The Proprietatea Fund (FP) owns 15% of the shares.

The tender book costs 8,000 Euros, or the equivalent in lei or dollars, plus VAT. The participants in the call for tenders, must deposit a guarantee of 25,000 Euros, or the equivalent amount in lei or dollars.

Romgaz has a share capital of 383 million lei, divided into 38.3 million shares with a face value of 10 lei. The company had a net profit of 508.5 million lei in 2010.

The government has made a commitment to the IMF to sell 15% stakes in Romgaz, Transelectrica, Transgaz, at least 10% of Hidroelectrica and Nuclearelectrica, 10% of OMV Petrom, a stake of 20% in CFR Marfă and up to 20% of Tarom.

In the case of Transelectrica, the winning bid came from the consortium made up of the Romanian Commercial Bank (BCR), Intercapital Invest and Swiss Capital. The listing will take place in spring 2012 and will involve the sale of a 15% stake.

In the case of Tarom, the Ministry of Transports has cancelled the call for tenders, since there was only one bid which was both "pricey and non-compliant", according to Anca Boagiu, the minister of Transports.

Bids for the listing of the stake in Transgaz can be submitted until December 8th.