Hidroelectrica launches consultancy tender for IPO plan
The state-owned company Hidroelectrica of Romania has launched a tender for interested firms to provide consultancy equity advisory services for the planned initial public offering of the company.
The Government of Romania owns the company with an 80.06% stake while the remaining 19.94% interest is owned by the investment fund Fondul Proprietatea. The company owns hydroelectric power plants and pumping stations.
The European Bank for Reconstruction and Development (EBRD) is interested to acquire a 5% stake in the Hidroelectrica. The planned initial public offering of a 15% stake in Hidroelectrica can potentially raise up to EUR1 billion (US$1.129 billion).
The deadline for the submission of documents to participate in the tender is on April 6, 2020.
Tender document can be accessed here.
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