Electricity

Hidroelectrica to hire law firm for IPO on Bucharest Stock Exchange

Photo: Bucharest Stock Exchange

Published

May 17, 2019

Country

Comments

comments icon

0

Share

Published:

May 17, 2019

Country:

Comments:

comments icon

0

Share

State-owned power utility Hidroelectrica has issued a public call to acquire legal services for conducting an initial public offering (IPO) on the Bucharest Stock Exchange, local media reported.

The deadline for submitting offers is May 23.

Hidroelectrica plans to sell newly issued shares and also existing shares, but also to finally lists on the Bucharest Stock Exchange, Economica.net reported.

The largest electricity producer in Romania could offer a 10% stake in the IPO

The law firm will advise Hidroelectrica in all of these activities, including a selection of intermediaries or underwriters. According to the public call, Hidroelectrica intends to hire a law firm with an international reputation specialized in legal advisory services.

A week ago, local media reported that the Romanian government plans to conduct an IPO for Hidroelectrica. The largest electricity producer in Romania could offer a 10% stake in the IPO.

The Hidroelectrica IPO was announced back in 2012, when even legal advisors were selected. However, the company entered the insolvency procedures and the IPO was postponed. There were also few other delays of the IPO after this first one.

US investment fund owns 20% stake

The Romanian state owns 80% of the Hidroelectrica’s shares, while the remaining 20% is in the hands of US investment fund Fondul Proprietatea.

In October last year, Hidroelectrica signed a memorandum of cooperation with Austria’s Verbund.

The signing of the memorandum triggered reports by the Romanian media concerning Verbund’s interest in buying 20% owned by Fondul Proprietatea. However, the US fund had offered its stake in Hidroelectrica for first time in November 2017.

Hidroelectrica’s average annual electricity output is 17 TWh generated by 228 hydropower plants with an installed capacity of 3,444 MW.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

gas interconnector srbijagas nomagas

Serbia, North Macedonia working on gas interconnector project

03 July 2025 - Srbijagas and Nomagas have expressed their intention to build the Serbia – North Macedonia gas interconnector soon.

IHA Turkey 2024 hydropower additions highest Europe again

IHA: Turkey’s 2024 hydropower additions highest in Europe again

03 July 2025 - The world's hydroelectric capacity increased 1.7% last year to 1.44 TW, the International Hydropower Association said in its annual report

YEO Defic Globe projects 219 MW Romania rebranding

YEO’s Defic Globe buys projects for 219 MW in Romania amid rebranding

03 July 2025 - Defic Globe, controlled by YEO, acquired 15 project firms developing plans for power plants and battery storage in Romania

HELLENiQ Energy buys ABO Energy Hellas 1 5 GW renewables

HELLENiQ Energy buys ABO Energy Hellas, adding 1.5 GW in renewables projects

02 July 2025 - Amid a consolidation in the renewables sector in Greece, HELLENiQ Energysaid it completed the acquisition of ABO Energy Hellas