Hidroelectrica, the largest producer of electricity and the most profitable state-owned company in Romania, was evaluated by its minority shareholder Fondul Proprietatea at just over five billion Euro at the end of December 2019, up 770 million Euro compared to the previous evaluation.

Fondul Proprietatea evaluated at over one billion Euro its 20% stake in the company, up by 155 million Euro compared to November 2019, according to the fund’s annual report published on the Bucharest Stock Exchange on Friday, February 28, Romania Insider reads.

Hidroelectrica is currently preparing for an initial public offering (IPO), as promised by the Energy Ministry, and could become the most valuable Romanian listed company, a place currently held by OMV Petrom with a capitalization of 4.54 billion Euro.