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Financials

Romania's Romgaz IPO to start on Oct. 22

BUCHAREST, Oct 21 (Reuters) - Romania will launch the initial public offering of a 15 percent stake in state gas producer Romgaz on Oct. 22, after the offer was initially scheduled to start on Monday, the company said in a statement.

The Authority of Financial Supervision (ASF) approved the listing prospect on Oct. 18, Romgaz said. The listing will end on Oct. 31.

Last week Romania has set a price range for a stock market listing of the Romgaz stake that aims to raise as much as 1.85 billion lei ($568 million) and that will value the company at about $3.7 billion.

The initial public offering (IPO) is part of a wider privatisation plan agreed between Romania and the International Monetary Fund, which has led aid deals for the country since 2009. (Reporting by Ioana Patran; Editing by Luiza Ilie)

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