Romania’s leading fixed broadband and cable TV operator RCS&RDS is preparing an initial public offering (IPO) of up to 25% of its equity on the Bucharest Stock Exchange (BVB) in the second half of 2016, and has already selected investment banks and brokerage firms to oversee the process, according to information published by Romanian journal Mirsanu.ro and ‘confirmed market sources’ cited by Wall-street.ro. ‘Talks are real and most likely the deal will be done this year, becoming the largest IPO ever conducted on the Bucharest Stock Exchange,’ according to the sources. Wall-street.ro writes that the largest IPO on the Romanian stock market took place in 2014 when the Romanian state earned EUR444 million (USD500.1 million) from a 51% stake in energy firm Electrica. The report continues that the value of the mooted RCS&RDS share offering is estimated at EUR500 million, whilst the expected consortium of investment banks and brokers is named as Citibank, Deutsche Bank, Wood & Co, Raiffeisen and BRD. However, representatives of RCS&RDS, BRD and Raiffeisen contacted by Wall-street.ro said that they could not comment. It was also noted that RCS&RDS – which operates quadruple-play fixed and mobile services under its Digi brand – has not yet sent a letter of intent regarding an IPO to the local financial regulator.