OMV Petrom Seeks Secondary Listing in London

08.19.2015 By Bogdan Neagu

Shareholders of Romania’s largest public company OMV Petrom (SNP.RO) are called to vote on the secondary listing of the oil&gas producer’s shares in London.

Petrom stockholders will convene on September 22 to decide if the company will seek an admission on London stock exchange’s main market by issuance of global depository receipts by the end of 2016.

Petrom, a unit of Austria’s OMV, is the largest company on the Bucharest stock exchange by market capitalization, and the second largest in Romania by annual revenue, after Renault’s Automobile Dacia.

Several large companies in Romania have been recently listed in London, mostly by issuance of GDRs, including natural gas producer Romgaz (SNG.

Investment fund Fondul Proprietatea (FP.RO), one of the main shareholders of Petrom, is also listed in London and announced today that is seeks a reduction of its interest in Petrom to below 15% from 19% currently. One of the options considered is a public offer on a foreign market, followed by a listing of GDRs in London.