Romanian Hidroelectrica IPO Depends On Market Conditions - GM
Romanian state-run hydropower generator Hidroelectrica could be floated on the Bucharest stock exchange in three to six months, once the technical details of the offering are completed, but an exact date will depend on market conditions, general manager Constantin Trihenea said Tuesday.
“The technical procedures should take about three to six months,” Trihenea said. “If the moment is not right, I think the listing could be delayed,” he added.
Trihenea said Hidroelectrica is still debating on whether to call for a capital increase before launching a public offering in Bucharest.
“One thing is certain: Hidroelectrica will not get any money at the initial public offering. The money goes to the state… and to Fondul Proprietatea,” the company official said.
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