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State property chief announces IPO for 25% stake in HEP

April 14, 2015 | Comments: 0Author:

The Government of Croatia plans to organize an initial public offering (IPO) for a 25% stake in national grid operator HEP, a state official told Bloomberg News.

The state plans to get HRK 2 billion (EUR 260 million) to HRK 3 billion, stated Mladen Pejnović, head of state assets management bureau Duudi, and added the proceeds would be reinvested.

HEP also plans expansion in neighboring former Yugoslav republics of Slovenia, Bosnia and Herzegovina and Montenegro, he said.