Electricity

Hidroelectrica to launch IPO in September 2020

IPO

Photo: Pixabay

Published

August 28, 2019

Country

Comments

comments icon

0

Share

Published:

August 28, 2019

Country:

Comments:

comments icon

0

Share

Romania’s state-owned power utility, Hidroelectrica, will launch an initial public offering (IPO) on the Bucharest Stock Exchange in September 2020, local media reported.

According to Hidroelectrica CEO Bogdan Badea, the most profitable state-owned company in Romania plans to list 10% of its shares in IPO.

There is an option for dual listing, possibly in London

He said that shares will be listed on the Bucharest Stock Exchange, while there is an option for dual listing, possibly in London. Badea added that a final decision on the IPO depends on the Ministry of Energy.

In May, Hidroelectrica issued a public call to acquire legal services for conducting an IPO on the Bucharest Stock Exchange.

Hidroelectrica’s IPO was announced back in 2012 when even legal advisors were selected

A few weeks ago, the company revealed it was eyeing Czech energy company CEZ’s Romanian assets, as well as assets owned by Italian energy company Enel in Romania.

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

Hidroelectrica’s IPO was announced back in 2012 when even legal advisors were selected. However, the company entered insolvency proceedings and the IPO was postponed. There were several more delays of the IPO after this first one.

The Romanian state owns 80% of Hidroelectrica’s shares, while the remaining 20% is in the hands of US investment fund Fondul Proprietatea. In 2018, Hidroelectrica reported a record net profit, of RON 1.97 billion (about EUR 415.7 million).

Hidroelectrica is the largest Romanian power producer

Hidroelectrica is the largest Romanian power producer, with an average annual electricity output of 17 TWh, generated by 228 hydropower plants (HPPs), with a total 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

Alteo's Chikán Aggregators AI solutions grid stability production optimization

Alteo’s Chikán: Aggregators have AI solutions for grid stability, production optimization

19 May 2025 - Volatile prices, policy changes and flexibility needs are driving a momentum for developers and aggregators, Alteo's CEO Attila Chikán says

Akuo Energy signs PPA with EPS for Bela Anta 2 wind project in Serbia

Akuo Energy signs PPA with EPS for Bela Anta 2 wind project in Serbia

19 May 2025 - Akuo Energy signed a power purchase agreement (PPA) with Serbia's Elektroprivreda Srbije (EPS) for the Bela Anta 2 wind power project

power grid outage substation

Low consumption causes grid failure, power outage in North Macedonia

19 May 2025 - Bulgaria’s balancing facilities were crucial in stabilizing North Macedonia’s grid, Bulgarian energy minister says

Alarming rise in unpaid bills from electricity consumers in Greece

Alarming rise in unpaid bills from electricity consumers in Greece

17 May 2025 - A steep rise in arrears was recorded last year in the Greek electricity supply market with EUR 1 billion more than 2023