This is in line with a previous agreement of the two shareholders to list the company’s shares, but Fondul Proprietatea has constantly argued recently in favor of a dual listing “with the view to maximizing the value of its 20% stake”.
Hidroelectrica already selected STJ Advisors Group as equity consultant and Dentons as legal consultant two years ago.
In the shareholder meeting of May 6, 2022, attended by Nicu Romeo Susanu, on behalf of the energy ministry, and Calin Metes, Deputy General Manager for Investments of Franklin Templeton Bucharest, the two shareholders voted to appoint the consultants specifically in the context of the public offer for the sale of up to 20% of the company’s shares in view of the listing “only on the Bucharest Stock Exchange”.
The specification “only on the Bucharest Stock Exchange” is mentioned both for the equity consultant and for the legal one, according to Ziarul Financiar daily. Another consultant will be later selected for the process of selling shares on the Stock Exchange.