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Fondul Proprietatea kicks off roadshow for Hidroelectrica IPO
Fondul Proprietatea (BVB: FP) will soon begin the series of meetings with investors interested in its 20% stake in Hidroelectrica as a prelude to the IPO scheduled for sometime in the first part of next year - while keeping open the option for a private deal, Ziarul Financiar announced quoting FP’s deputy general manager Marius Dan.
He mentions a clause to be endorsed by FP’s shareholders at their meeting on November 15, which allows for such a private deal that is aimed “to maximise the value of the stake” but also to facilitate the best distribution (of incomes) to FP’s shareholders.
Also, listing Hidroelectrica’s shares on an external market in addition to BVB “would facilitate the issuance of green bonds and access to a wide range of instruments for attracting capital,” explains Marius Dan, arguing for the dual listing that seems to be firmly rejected by Hidroelectrica’s main shareholder, the Romanian state.
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