Romanian Post's share capital, raised by roughly 33 million euro

The Romanian state has wired a first instalment, of 153 million lei (around 33 million euro) in the accounts of the Romanian National Post Company (CNPR), thus starting the process of raising the share capital of the postal service operator, according to legal provisions, announced Thursday, the Ministry of Communications and Information Society (MCSI), in a press release, transmitted by AGERPRES.

According to the source, the rest of 170 million lei will be wired towards the postal company in the 4th trimester of this year.

"The Romanian state has raised the share capital of the Romanian Post, according to the Government regulation no. 38/2018. Thus, the sum of 153 million lei was wired in the company's accounts, and the difference until it reaches 170 million euro will be wired in this year's 4th trimester, according to article 21 of Law 500/2002. It is the first capitalization that the Romanian state, as a majority shareholder, carries out, through the Government's decision for the Romanian National Postal Service. This process represents both a major investment, as well as a confidence investment on behalf of the Executive in the capacity of the national postal service operator to reinvent itself both in a medium and long term," reads the MCSI press release. 

"The Romanian Post is one the biggest employers in Romania, and reconfirming the support on behalf of the Romanian state represents a message of stability for those over 24,000 employees that the company has. Also, this capitalization is a solid and trustworthy investment in the company's ability to become strong and profitable again." I am glad that I joined the Romanian Post in this special time," Costin Tudor, CEO of CNPR underscored.

The shares issued for raising the equity capital will be offered for subscription according to the participation quota owned by the company, at around 170 million shares respectively, for the majority shareholder and 56,666,667 shares for the minority shareholder.

The Romanian state, through the Ministry of Communications and Information Society (MCSI) owns 75 percent of the Romanian Postal Service and Fondul Proprietatea (FP) owns 25 percent.