Romania Nuclearelectrica, Hidroelectrica Plan IPOs To Raise Capital
Romanian Economy Ministry plans to sell stakes of 10% in power producers Nuclearelectrica and Hidrolectrica to increase the share capital of the two companies, according to a draft government decision.
The ministry will wave its subscription rights on the new shares issued via two initial public offerings on the Bucharest Stock Exchange, according to the document.
The document doesn’t specify a date for the two IPOs.
Under a memorandum of understanding with the International Monetary Fund, Romania’s government pledged to sell minority stakes in Hidroelectrica and Nuclearelectrica with a view towards generating sizable additional investment in the energy sector.
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