He said the IPO is likely to happen next year and a longer period of restrictions due to the coronavirus pandemic could delay the process until the first or second quarter of 2021.
Fondul Proprietatea owns 20% in Hidroelectrica.
The power company is currently in the pre-IPO stage and is selecting an equity adviser. Lazard Freres, STJ Advisors Group, and Deloitte Consultancy have signed up again to provide equity advisory services for an estimated EUR1.75 million after the first tender was canceled and then reprised, delaying the process by two months.