Investment fund Fondul Proprietatea (FP.RO), a minority shareholder in Hidroelectrica, will have preference rights over 2.49% of the new shares, the document noted.
The ministry didn’t say when the operations would take place.
Hidrolectrica, Romania’s largest power producer, has filed for insolvency last year and is currently undergoing reorganization. The company has 80.06% of its shares in the hand of the economy ministry, while Fondul Proprietatea holds a 19.94% stake.
Under a EUR3.6 billion loan agreement with the International Monetary Fund, Romania has pledged to sell a minority stake in Hidroelectrica shortly after the company completes its reorganization process, which is slated for the second half of 2013.
Hidroelectrica has a share capital of 4.44 billion lei (EUR1 billion). The company hired a consortium comprising BRD-Societe Generale (BRD.RO), Citigroup, Societe Generale and Intercapital Invest to run the initial public offering in Bucharest.