Romania, Hidroelectrica two steps away from the stock exchange listing, SEE Energy News
Fond Poprietatea, a minority shareholder in Hidroelektrika, states that the Romanian state, as the majority shareholder, agrees to hold a general assembly of shareholders to vote on the company’s listing on the Bucharest Stock Exchange, at the suggestion of the FP.
Franklin Templeton International Services, as administrator of the alternative investment fund and sole administrator of the Proprietate Fund, informed shareholders that on March 28, 2022, the Ministry of Energy as the majority shareholder of Hydroelectrics confirmed its agreement to hold a shareholders’ meeting to approve the listing stock exchange, after the public offering of shares owned by FP, it is stated in the announcement.
The shareholders’ assembly is scheduled for March 31, 2022, and it is expected that the IPO proposal will be approved. After that, the shares of Hidroelektrika owned by the Fund will be offered to investors on the Bucharest Stock Exchange.
The Fund currently holds 19.94% of the issued share capital of Hidroelektrika, which represents 66.15% of the net value of the Fund’s assets as of February 28, 2022.
Hydroelectricity is the largest and most profitable producer of electricity in Romania, with a production of about 17 TWh of electricity. The company currently operates 209 plants, with a total installed capacity of 6,482 MW. The Crucea wind farm was added to this.
Johan Meyer, portfolio manager at the Proprietate Fund, recently said at the ZF Power Summit 2022 that Hydroelectrics is worth more than $ 10 billion. If it was listed, it would be worth 10-15% more.