Brokers Can File Bids To Manage Romania’s Hidroelectrica IPO

Hidroelectrica shareholders decided Friday to list the company in Bucharest, part of a plan to sell minority stakes in major energy companies agreed by local authorities with the International Monetary Fund.

According to the agreement with the IMF, Hidroelectrica’s IPO should be concluded by October, and the investment bank that will run the offering should be selected in February.

Romania has pledged to sell minority stakes in Romgaz, Transelectrica (TEL.RO), Transgaz (TGN.RO), OMV Petrom (SNP.RO), Nuclearelectrica, Hidroelectrica, CFR Marfa and Tarom. The government has already selected brokers for offerings in Transelectrica, Transgaz, Romgaz and Tarom.