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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.



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