about us | newsletter | contact | archive | members area
IONELA STAN, EY
In combination with other technology investments, RPA creates an integration layer to he»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Borza: Hidroelectrica would get one billion Euro for listing on the stock exchange

Hidroelectrica could get one billion Euro from listing on the stock exchange if the process would run this year, but the funds should go to the state budget, as the energy producer does not need the money, the company’s former judicial administrator Remus Borza said in a press conference.

2017-05-08 15:33:10

"Hidroelectrica has 500 million Euro in bank deposits," said Borza. "If we are to make the listing, which is a turning point for Hidroelectrica, there is no greater time than now to do it. Hidroelectrica can be listed at a multiple EBITDA of 15-20 times, which means the company has a value of 7.5 to ten billion Euro. At a 15 per cent listing this year, the state budget could get an extra one billion Euro."

According to Borza, Hidroelectrica does not need the money that could be obtained from a possible listing.

Romanian Government is willing to move the Hidroelectrica IPO process forward as quickly as possible, recently said Greg Konieczny, portfolio manager of Fondul Proprietatea and executive vice president within Templeton Emerging Markets Group, who had a meeting with Prime Minister Sorin Grindeanu.
According to him, there has been very little progress over the last few months in relation to this IPO process and a lot of decisions have been stalled within different committees and different levels of the Government.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  1682 Views
Daily Info
Romanian Energy Awards 2017 - performance and exceptional accomplishments

The Diplomat - Bucharest celebrated the winners of 21 assigned categories for both conventional and renewable energy, within a prestigious event continuing the annual traditio...

New law on ports administration would be very damaging for Romanian state budget, Fondul Proprietatea says

Fondul Proprietatea is concerned by the renewed steps to approve the draft law amending the Government Ordinance on ports administration, which was re-examined and approved th...

Vienna Insurance Group posts profit of 110 million Euro in Q1

Vienna Insurance Group reported a profit before taxes of around 110 million Euro in the first quarter of 2017, according to a press release.

Three Romanian architecture offices merge into CUMULUS

PZP, SYAA and ARXTUDIO offices have merged into CUMULUS, in one of the rare transaction on the Romanian architecture sector. The new company has a combined turnover of over on...

Eberspaecher forecasts slight increase in revenue for 2017

The German automotive supplier Eberspaecher forecasts sustained positive income development with a slight increase in revenue for 2017, a press release shows.

 
 
   
advertising

advertising

advertising

advertising

More on News
Iohannis: I explained to EU leaders multi-speed Europe is not a good solution, could end in split-up

President Klaus Iohannis, speaking after the European Council's meeting, said that he explained to EU leaders that a multi-speed Europe is not a good solution and that in e...

1 Comment

BRUA pipeline to operate in 2020 when Exxon, Petrom will extract Black Sea gas

The works at the BRUA (Bulgaria - Romania - Hungary - Austria) pipeline will start at the end of 2017, and the gas pipeline will become operational in 2020, when ExxonMobil...

Ninety-seven per cent of household waste ends up in landfills, says ARBIO

As much as 97 per cent of Romania's household waste ends up in landfills, and Romania could be fined starting in 2020 about 500,000 Euro per day if it fails to bring the nu...

Net investment in national economy, down 3.3 per cent in 2016

Net investment carried out last year in Romania's national economy stood at 70.281 billion RON (15.6 billion Euro, declining 3.3 per cent from 2015, according to data relea...

Romania has significant potential in agriculture, but low productivity, says PwC Romania

Romania is one of the European countries with the highest potential in agriculture with the sixth biggest agricultural use area in the EU, but it has a low productivity due...

Commercial property investments in Romania exceeded 850 million Euro last year, says DTZ

In 2016, the total volume invested in commercial property in Romania exceeded 850 million Euro, a DTZ Echinox report shows. Bucharest attracted 660 million Euro, which repr...

PM Grindeanu: We must back European project strengthening, not multi-speed Europe

Romania's consistent stance - whether expressed by the country's Presidency, government or Parliament - on the future of the EU in the Brexit context is to support the stre...