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Hanga: Hidroelectrica’s IPO, probably the biggest in Europe

5 June 2023

Hidroelectrica’s IPO at the Bucharest Stock Exchange (BVB) will probably be the largest in Europe and possibly even globally, BVB president Radu Hanga said on Wednesday.

“Looking also at the trends, we see a very good evolution. 2021 was a record year in terms of listings on the stock exchange. We had 23 companies listed. If we look at previous years, we usually had one, two, three listings every year, so it was a tremendous jump. In 2022, although it was a complicated year, we had 11 listings. This year, we definitely see a slowdown, but on the other hand, we are waiting for the most important listing from the Bucharest Stock Exchange in the last 10 years. We will see, under conditions in which it will be successfully concluded, probably the largest listing in Europe and possibly even at the global level. That is, it will really be an event that will take us on the front page of the newspapers. And it’s not just about Romania. There will probably be a listing, I’m talking about Hidroelectrica, a listing that will bring us closer to emerging market status on the Morgan Stanley Capital International list,” specified Radu Hanga, quoted by Agerpres.

In his opinion, this listing will mean an additional flow of capital to the local economy.

“I would say that good things are happening on the Romanian stock market and I would say that Romanian entrepreneurs are paying much more attention to what is happening here. And to repeat something that we keep saying, it is not just about financing. Of course, the stock market is a financing channel, but on the other hand, it is increasingly being perceived as a stage,” said the head of the BVB.

He explained that the Stock Exchange is a place where companies gain visibility, and the press starts writing about them and their products. “Sure, when you are a company with 100 years of history and when you are a well-known brand, that may not have that much value. But when you are a new company, founded 5 years ago, 10 years ago, a company that knows how hard it is to build an image, otherwise I appreciate these advantages,” said Radu Hanga.

Hidroelectrica is the largest producer of green energy in Romania and the main supplier of technological services needed in the National Energy System, being a vital company for a strategic sector, with implications for national security. The company operates a number of 187 power plants, with a hydropower capacity of 6.3 GW. It also bought Crucea wind farm, with an installed power of 108 MW.

In an average hydrological year, Hidroelectrica provides 30% of the total national electricity production.

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