The country’s biggest natural gas retailer Overgas unveils for Dnevnik Daily that the company is considering to float shares on a big European stock exchange. The alternative option of the gas retailer is to raise funds through a bond issue. The sales of Overgas increased by 22% to 256mn cubic metres of natural gas and by 57.8% to BGN 677mn (EUR 346.1mn) in terms of revenues last year. However, the pre-tax profit of Overgas dropped by 6.1% to BGN 22.5mn due to the launching of new projects. Overgas expanded its pipeline network by 134 kilometres last year to 1,670 kilometres and plans to invest BGN 75mn this year, more that half of which in expanding its pipeline network. On Feb 26, Overgas repaid a BGN 20mn bond in accordance with the date of maturity. To optimise expenditures, Overgas is planning to merge seven of its subsidiaries into Dunavgas, which received a 35-year licence for natural gas distribution in 13 municipalities in northern Bulgaria three years ago. Russia ’s Gazprom and its trade arm Gazexport own 50% of Overgas; the remaining half of the shares is controlled by the locally registered Overgas Holding.