The two initial public offerings will be used to increase the share capital at both companies, the government said in a statement.
Under a memorandum of understanding with the IMF, Romania’s government pledged to sell minority stakes in Hidroelectrica and Nuclearelectrica with a view towards generating sizable additional investment in the energy sector.
The public offering for Hidrolectrica’s shares will be concluded by end-October. The IPO for Nuclearelectrica wasn’t announced yet.
The Economy Ministry owns 80.05% in Hidroelectrica and 90.28% in Nuclearelectrica, while investment fund Fondul Proprietatea (FP.RO) holds stakes of 19.94% and 9.72%, respectively.