Hidroelectrica signed yesterday the consulting contract for the preparation of the legal documents necessary for the IPO, the company announced. The contract was awarded by Dentons, which offered the price of 429,000 euros, compared to 700,000 euros, the estimated value of the purchase.
“By signing the contract for legal services for our listing, we made sure that we have with us one of the largest law firms in the world, with scope and extensive experience in public offerings for the sale of shares, a suitable partner for a company of the Hidroelectrica caliber,” said Bogdan Badea, president of the Hidroelectrica board of directors.
“The pandemic period did not stop the commitments made by our company in terms of listing on the stock exchange. We are still taking firm steps on this path, so that when shareholders decide it is time for listing, we can act.
Hidroelectrica is getting closer to the stage where it is 100% ready for the IPO procedure. We have the unreserved opinion of the auditor, obtained since last year – after solving the problem of historical investments, now we have the legal consultant to be with us in this process that we want a successful one. We are going to make a decision very soon regarding the selection of the Equity Advisor,” Bogdan Badea added.
At the selection procedure of the legal consultant for the IPO of Hidroelectrica, 11 law firms with international notoriety and experience presented themselves. The listing of 10% of the shares of Hidroelectrica was decided in 2013 by GD 1066, for the approval of the privatization strategy.
Hidroelectrica is a leader in the production of electricity in Romania and the main provider of technological services required in the National Energy System. The company has in its portfolio 204 hydroelectric power plants with an installed capacity of 6,444 MW.