Montenegro, EPCG launched another tender for the sale of 10 % of its shares

, SEE Energy News

Following the unsuccessful first attempt, Montenegrin state-owned power utility EPCG launched another tender for the sale of 10 % of its shares.

The public call offers 11.813.238 of EPCG’s shares in a block transaction, this time at a lower price – 7.33 euros per share, instead of 8.63 euros/share in the initial offer. The deadline for the submission of offers is 12 August.

The call is open for energy companies with the portfolio of at least 1,000 MW or with a basic capital of at least 500 million euros and Investment funds that are listed on the organized capital market, have a positive financial result in the last three years, capital of at least one billion euros and investment in energy sector at least 100 million euros in the last five years.

Not a single offer was received at the first public call launched in mid-July, with the only expression of interest coming from Shanghai Electric Power, the owner of the Mozura wind farm.

EPCG has to sell these shares, otherwise its capital will be decreased by 77 million euros, because these shares will be annulled after 26 September 2022 if not sold to a third party