Romania to List Hidroelectrica and Electrica in June

Posted: Friday, January 10, 2014

Romanian state-run energy companies Hidroelectrica and Electrica will be floated in June at both the Bucharest and the London stock exchanges, Minister Delegate for Energy Constantin Nita told news agency Mediafax.

The listings will be followed by an initial public offering of 15% in energy holding CE Oltenia in October, Nita added.

Romania plans to sell 15% in hydropower generator Hidroelectrica, the largest electricity producer in the country, and 51% in electricity distributor and supplier Electrica.

The Eastern European country drew strong investor demand for the shares of state-run natural gas producer Romgaz in a public offering that ran in October 2013 in Bucharest and London . Romania sold 15% in Romgaz for 1.7 billion lei ($534 million) in the IPO, valuing the company at RON11.6 billion.

The privatization of the three companies is included in Romania 's agreements with the International Monetary Fund and the European Commission.

(DowJones)