The release the state-run company sent does not specify exactly what stake Fondul Proprietatea will put for up sale only that details would be published once the Financial Supervisory Authority has approved the prospectus. Admission to trading should be done in July 2023, Hidroelectrica says. Once admitted to trading, the shares will be included in the BET index.
“Hidroelectrica has a strong track record of achieving meaningful growth and delivering shareholder returns, as the leading electricity producer in Romania with a 100% renewable energy portfolio,” says chief executive officer Bogdan Badea.
“We are well positioned to continue our growth path, with a clear strategy focused on operational efficiencies, diversification and expansion of our business and delivering shareholder value, all underpinned by a supportive long-term sector and macroeconomic environment. The proposed IPO is an exciting and logical next step in our journey, as the listing of Hidroelectrica’s shares on the Bucharest Stock Exchange will help us diversify our shareholder base and raise our international profile.”
Citigroup Global Markets Europe AG, Erste Group Bank AG, Jefferies GmbH, and Morgan Stanley Europe SE are acting as Joint Global Coordinators in connection with the Offering.
Banca Comerciala Romana S.A., Barclays Bank Ireland PLC, BofA Securities Europe SA, UBS Europe SE, UniCredit Bank AG and Wood & Company Financial Services, a.s. are acting as Joint Bookrunners.
Auerbach Grayson, BRD – Groupe Société Générale, S.S.I.F. BT Capital Partners S.A. and S.S.I.F. Swiss Capital S.A. are acting as Co-Lead Managers.
Rothschild & Co Equity Market Solutions Limited is acting as Financial Adviser to Fondul Proprietatea, and STJ Advisors is acting as Financial Adviser to the Company in connection with the IPO.
(English version by Loredana Fratila-Cristescu)