home Latest News Romania's Hidroelectrica to seek listing adviser – Reuters Africa

Romania's Hidroelectrica to seek listing adviser – Reuters Africa

This post was originally published on this site

BUCHAREST, Sept 12 (Reuters) – Romanian state-owned hydro power producer Hidroelectrica is waiting for the resolution of a political crisis to be able to select a listing adviser for a planned initial public offering, its head Bogdan Badea said on Thursday.

The Social Democrat government, which must approve listing plans for state-controlled entities, is facing a potential no confidence vote in parliament after losing its junior partner and majority in the assembly.

Hidroelectrica officials have said the company could list a minority stake on the Bucharest bourse in the second half of 2020. Badea said a legal provision forcing Hidroelectrica to sell up to 65% of its output on the regulated market could hurt its listing plans. (Reporting by Luiza Ilie Editing by Radu Marinas)