US investment funds, interested in Hidroelectrica’s listing. The company on stock, no sooner than 2017


Get real time updates directly on you device, subscribe now.

A delegation of  Romanian state-controlled hydropower producer Hidroelectrica, made up of the company’s trustee Remus Borza, and Karoly Borbely, Director of Strategy and Corporate Affairs – IPO, at Hidroelectrica, have attended the Economic Mission of Romanian Chamber of Commerce and Industry in United States America during September 28-October 2. According to a press release, following this event, Borza announced that several US investment funds are interested in Hidroelectrica’s listing.

This would be the conclusion after a series of bilateral meetings between representatives of Hidroelectrica and those of the investment funds such as SEGRA Capital Management, EATON VANCE Investment Managers, LR Global, NEWTYN Capital, Driehaus Capital Management and Benclinov & Associates.

According to Hidroelectrica officials, the majority of investment funds that have been discussed with are familiar with the domestic business and market conditions, they are already present in Romania through ownership of shares in the Proprietatea Fund.

Also, on Monday, Energy Minister Andrei Gerea said in a press conference that Hidroelectrica’s listing could take place during 2017, but after the company comes out from the insolvency proceedings. The minister added he did not believe that the state will soon take over company’s management, although Hidroelectrica has paid its debt.

Authorities have pledged to the International Monetary Fund (IMF) to list Hidroelectrica, but they delayed the launch of IPOs as the company re-entered insolvency, early last year. Romanian state-controlled hydropower producer recorded in the first six months of 2015 a record profit of RON 725 million, by 42 percent higher than the profit recorded in the corresponding period last year, when the company reported a profit of RON 510 million.

- Advertisement -

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More