Romanian Govt OKs Hidroelectrica, Nuclearelectrica IPOs
The Romanian government Wednesday approved selling stakes of 10% in power producers Hidrolectrica and Nuclearelectrica, as per an agreement with the International Monetary Fund.
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.
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