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Constanta Port and Bucharest Airports, proposed for privatisation via IPO

Ministry of Transports proposes the stock market listing of Bucharest Airports (Aeroporturi Bucuresti) National Company – CNAB and APM SA Constanta (Constanta Port) National Company by selling a minority stake of 20-25 percent in an initial public offering (IPO), putting the Government Decision draft in public debate as of Thursday.

Practically, through this project, the privatization strategy, established by a memorandum published on October 4, 2016, when the Executive agreed that the CNAB and Constanta Port to have a capital increase by issuing new shares representing 20 to 25 percent of share capital of each company and their sale through Bucharest Stock Exchange (BVB), is changing.

Bucharest Airports National Company commenced functioning on February the 5th, 2010, ensuring the operational coordination and the management of the two airports in Bucharest – Henri Coanda (Otopeni) International Airport and Aurel Vlaicu (Baneasa) International Airport.

The company was set up following the merger of the two companies managing at that time Bucharest’s airports.

Bucharest Airports registered in the first eight months of 2016, on Henri Coanda International Airport and Aurel Vlaicu International Airport 7,141,740 passengers and 79,660 aircraft movements (landings and take offs). Of the total, 7,138,426 passengers and 71,236 aircraft movements were recorded on Henri Coanda Airport.

APM SA Constanta (Constanta Port) National Company was founded in 1998. In 2015, the company reported total revenue of RON 325.6 million compared to RON 305.8 million in 2014.

The total traffic of freight registered through the Romanian maritime ports was of 44 million tonnes in the first 9 months of 2016, compared to 43.46 million tonnes during the same period of 2015, an increase of 1.22 percent. From the total traffic, 15.76 million tonnes are exported goods, 14.15 million tonnes imported goods, 9.96 million tonnes are transited goods and 4.11 million tonnes cabotage.

 




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