Romania's Government Aims To Collect EUR40M From Tarom IPO
The Romanian government expects to collect between EUR20 million and EUR60 million for the 20% stake it plans to sell in airline Tarom on the local stock market.
The base scenario that includes the transaction broker’s fee estimates that the government will collect EUR40 million, according to a government document obtained by MEDIAFAX.
Following talks with the International Monetary Fund, the government decided this summer to start procedures for listing Tarom, by selling a 20% stake through a secondary public offering on the Bucharest Stock Exchange.
Authorities agreed with the IMF to sell the 20% stake by the end of the year, and to privatize the company when market conditions are ripe.
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