Fondul Proprietatea evaluates Romania's Hidroelectrica at EUR 5 bln
Hidroelectrica, the largest producer of electricity and the most profitable state-owned company in Romania, was evaluated by its minority shareholder Fondul Proprietatea at RON 24.4 billion (just over EUR 5 bln) at the end of December 2019, up RON 3.7 bln (EUR 770 mln) compared to the previous valuation, “as as a result of the good financial results and following the changes in the regulatory environment”.
Fondul Proprietatea evaluated at RON 4.9 bln (over EUR 1 bln) its 20% stake in the company, up by RON 743 million (EUR 155 mln) compared to November 2019, according to the fund’s annual report published on the Bucharest Stock Exchange on Friday, February 28.
Hidroelectrica is currently preparing for an initial public offering (IPO), as promised by the Energy Ministry, and could become the most valuable Romanian listed company, a place currently held by OMV Petrom with a capitalization of RON 21.8 bln (EUR 4.54 bln).
(Photo: Hidroelectrica Facebook Page)