US funds, interested in Romanian power producer’s listing

US investors are interest in the listing of Romania’s largest power producer Hidroelectrica. They want to know the schedule for the launch of the initial public offering, according to the company. Hidroelectrica representatives met with representatives of several US funds in New York between September 28 and October 2. The funds include SEGRA Capital Management, EATON VANCE Investment Managers, LR Global, NEWTYN Capital, DRIEHAUS Capital Management, and Benclinov & Associates. According to Hidroelectrica, most of these funds are familiar with the business environment and the market conditions in Romania, as they hold shares in the local investment fund Fondul Proprietatea, reports local Hotnews.ro. The company’s listing could take place in 2017, after the producer exits insolvency, according to the Energy Minister Andrei Gerea. Hidroelectrica entered insolvency in June 2012 and, although the company returned to profit in recent years, it is still in insolvency due to legal issues. editor@romania-insider.com