The Romanian state, shareholder of Hidroelectrica with an 80% stake, approved in the General Meeting of Shareholders held on March 31 the initiation of the listing of the Company’s shares on the Bucharest Stock Exchange.
Some of the shares owned by Fondul Proprietatea, the minority shareholder, and not by the state, will be offered for sale to investors.
“Today, March 31, 2022, Hidroelectrica shareholders approved by EGMS Resolution no. 3 the initiation of admission for trading (the ‘Listing’) of the shares issued by S.P.E.E.H. Hidroelectrica S.A. on the Bucharest Stock Exchange, as a result of a secondary public offering having as subject shares issued by S.P.E.E.H. Hidroelectrica S.A. representing up to 19.94% of the total shares issued by the company, made by Fondul Proprietatea S.A.”, Hidroelectrica announces in a press release.
“We welcome the shareholders’ decision to list Hidroelectrica on the stock exchange and we are fully prepared to fulfil this decision. It is a natural step for a company of Hidroelectrica’s calibre, a new stage that we have been anticipating and expecting for a long time. We are convinced that listing will lead to strengthening the company’s position and further transparency and it will also seriously contribute to increasing the liquidity on BSE, with positive implications on national economy. I would like to point out that listing opens up new opportunities, including for Romanians who want to buy and hold shares in one of the most solid companies with majority state capital,” said Bogdan Badea, President of Hidroelectrica’s Management Board.
Hidroelectrica is the largest green energy producer in Romania and the main supplier of technological services necessary in the National Power System, being a vital company for an energy sector, with implications in national security. The company operates 209 power plants, with a total installed power of 6,482 MW. They are supplemented by Crucea wind farm, with an installed power of 108 MW.