NEWS OF THE DAY - JUNE 11

The Romanian Government at its sitting on Wednesday endorsed a draft resolution aimed at approving the privatization strategy by public offer for the share capital increase by the addition of private capital of Bucharest-based Electrica SA Electricity Distributor and Supplier. "Today we've adopted a price threshold for Electrica listing with a minimum listing price of 11 RON per share and a maximum listing price of 13.5 RON per share. It is actually one of the largest listing processes ever on the Romanian capital market. The company will raise at least some 435 million euros, if considering the lowest price", Minister-delegate for Energy Razvan Nicolescu said.

* Natural gas producers will have to sell a quota of their production on the exchange starting on July 1; the same will apply to natural gas suppliers from 2015, Minister Delegate for Energy Razvan Nicolescu announced on Wednesday. 'In today's Cabinet meeting we have passed fiver important measures concerning the energy sector. (...) They concern the establishing of some obligation for the natural gas producers and suppliers, which have to sell on the exchange some quotas to be set by the regulatory authority in the next days. Thus, starting on July 1, the natural gas producers Petrom, Romgaz and Amroco will have to trade some of their production on the exchange, in a transparent and non-discriminatory way,' the minister explained. He added that the same obligation would apply from 2014 to the natural gas suppliers, including for the possible gas imports.

* The Romanian Government will adopt an executive order later this month to remove the barriers hindering the development of the capital market in Romania as pinpointed by a working group, that were unveiled by the Bucharest...