The listing of Hidroelectrica should also be done on an international stock exchange, in addition to the IPO on the Bucharest Stock Exchange, considering following the model of Romgaz and Electrica, said Daniel Naftali, Deputy Portfolio Manager of Fondul Proprietatea.

“We consider it very important that, in addition to being listed on the Bucharest Stock Exchange, Hidroelectrica be listed on an international stock exchange, given the model of Romgaz and Electrica. We believe that listing Hidroelectrica will accelerate the transition of the Romanian capital market to an emerging market, which has the gift of attracting investors on the Romanian capital market in a Romanian company,” mentioned Daniel Naftali.

He stressed that there are “constructive” discussions with the representatives of the majority shareholder to finalize the listing with the shares of Fondul Proprietatea.

“Our discussions are to make a listing with the shares of Fondul Proprietatea, a public offer with the shares of Fondul Proprietatea. We are talking about an offer that could be of even up to 15% of the share capital of Hidroelectrica, the company becoming listed, and, in this context, the Romanian state would fulfill its obligations to the European Commission, to have a listed company. (…) These are the consultations we have with the representatives of the majority shareholder, but nothing is nailed down. We have constructive discussions. For this process to take place, a meeting of shareholders is needed to approve the initiation of all steps in this direction. We are only at the level of intentions and discussions,” said Daniel Naftali, according to Agerpres.

In his opinion, new issuers such as Hidroelectrica are needed to accelerate the transition of the Romanian capital market from the status of the frontier market to the one of an emerging market.

“We campaigned for the repeal of Law 173, the law passed by Parliament during the pandemic that banned the state from selling stakes, even minority stakes, to state-owned companies, blocking the listing of state-owned companies, either by capital increases or by tenders. This law 173 continues to take effect. At the same time, through the National Recovery and Resilience Plan, there is that obligation assumed by the Romanian state to list at least 15% of Hidroelectrica’s capital on the capital market until July 30, next year. Hidroelectrica is in a promising sector, in which its activity is central in the transition to the green economy. A unique asset in the end, by the fact that Hidroelectrica currently produces 100% energy from renewable sources,” said the manager of Fondul Proprietatea.