Hidroelectrica, the biggest power producer in Romania, 80% controlled by the state, has launched the procedure for selecting an Equity Adviser to help it prepare the initial public offering (IPO), according to an announcement on the company’s website.

The value of the contract is EUR 1.75 million and the services should be delivered on a period of 18 months after the contract will be signed.

The bidders should prove they have experience in providing similar services for energy and utility companies listed in the EU in the last five years. The deadline for submitting the offers is January 30.

Hidroelectrica is the most valuable company in the state’s portfolio and its listing is the most anticipated event by investors on the Bucharest Stock Exchange. In 2018, it recorded consolidated revenues of RON 4.3 billion (EUR 905 mln) and a net profit of almost RON 2 billion (EUR 415 mln).

editor@romania-insider.com

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