State-owned companies to be reviewed to decide which should be restructured, listed

The Government will continue restructuring the state-owned companies and reviewing its portfolio, to decide which of them could be listed on the stock exchange, Treasury head Stefan Nanu said in a conference organized by the Bucharest Stock Exchange (BVB) on Tuesday.

"The restructuring of the state-owned companies is a three-level matter: corporate governance, inefficiency cancellation and payment of arrears. I believe that on all three levels remarkable successes were obtained. (...) The Government intends to review the entire portfolio of the state-owned companies and decide which should be restructured, which should be the object of an initial public offer (IPO) and which should be listed on the BVB," Nanu explained.

In his opinion, the offer on the capital market for the potential investors will thus improve.

On the other hand, the Treasury head says that 2015 will be dominated by the fixed-income instruments, namely bonds, after two years ? 2013 and 2014 ? when the offer has come mostly from the shares sector.

"2015 will demonstrate that the fixed-income instruments market could be one of the capital market pillars," said the Finance Ministry official.

In this respect, he reminded a municipal bonds issue of the Bucharest Municipality this May, which was oversubscribed. Moreover, the Public Finances Ministry is offering the public, until June 19, government securities worth 100 million lei. AGERPRES