This time around, Hidroelectrica expects bids by April 6, thus delaying the initial listing calendar by two months.
At the initial round, Lazard, STJ and Deloitte had signed up to provide equity advisory services to the Romanian power producer.
Hidroelectrica is currently valued at over RON24.4 billion. It is 80% owned by the Romanian state and 20% owned by Fondul Proprietatea, which intends to sell part of its stake in the IPO.
Fondul Proprietatea values its 20% stake in Hidroelectrica at RON4.9 billion at the end of December 2019, RON742.5 million higher than in November, according to the fund’s annual report.