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Burduja: Hidroelectrica listing, a historic success

7 July 2023

The shares of the Hidroelectrica offer were oversubscribed 4.7 times, representing an amount of 6.25 billion lei, and this historic success of the listing of the electricity company shows that it was a correct option, which exceeded all expectations, according to the Minister of Energy, Sebastian Burduja.

“We are talking about an event awaited for over ten years and about the largest listing in the history of the Bucharest Stock Exchange and in the recent regional history of capital markets. To list a company means transparency, it means assumption, capitalization, it means, in fact, a modern market economy. This historic success of Hidroelectrica’s listing shows that it was a correct option, which exceeded all expectations. I am a liberal and this is the way to go for other companies in the portfolio of the ministry that I lead,” said Sebastian Bursuja, according to a press release from the Ministry of Energy quoted by Agerpres.

The largest share offer in the history of Romania came to an end on Tuesday, with the closing of the listing offer on the Stock Exchange of the energy producer Hidroelectrica, through which the minority shareholder Fondul Proprietatea (FP) put up for sale 78 million shares for approx. 8.8 billion lei. In eight days, small investors allocated 6.2 billion lei, which is an absolute record.

Investors who failed to subscribe shares in the June 23 – July 4 session can buy them directly on the Bucharest Stock Exchange from July 12, when Hidroelectrica will officially start trading under the aegis of the stock symbol H2O.

BVB decided to include Hidroelectrica in the composition of the stock market indices starting from the first trading day of the company on the stock exchange.

According to a press release from Hidroelectrica, the offer price established within the initial public offer carried out by Fondul Proprietatea regarding the shares held in Hidroelectrica was set at 104 lei/offered share, which implies a market capitalization of 46.8 billion lei (9.4 billion euros).

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