Andreea Lambru, chairman of the Hidroelectrica Energy Supervisory Board (CS), said that the Ministry of Energy is preparing a government decision that will change the procedure for listing the company on the Bucharest Stock Exchange (BVB), so that the money remain at the state budget.

“The current Supervisory Board will support the listing procedure, but there is a committee formed by several institutions that are performing the IPO and a consortium with which Hidroelectrica has an agreement”, said Andreea Lambru, according to Agerpres.

According to the CS chairman, “the direct sale of shares is preferable. Hidroelectrica currently has enough money to invest. Moreover, I do not think we can invest in the current year, we will not be able to spend either the money we have, so it is better (that the funds go to the state budget – e.n.)”, writes Agerpres.

Asked by journalists if, in these circumstances, it is possible for the company to be listed this year, Andreea Lambru replied: “No, it is about resuming a procedure, changing a government decision. This is a government decision that the Ministry of Energy and the Consortium are developing. At that point we can discuss the resumption of the listing procedure under the new conditions”.

In April, Andreea Lambru and five other people were appointed provisional members of the CS with a four-month mandate, after which a Supervisory Board with a four-year mandate would be appointed in accordance with Ordinance 109/2011 regarding the Corporate Governance in State Compasses.

“The procedure for the selection of some CS members in accordance with Ordinance 109 has not yet started. At the Ministry of Energy, the selection performed by the recruiting firms is currently underway”, explained Lambru. She added that CS’s provisional members do not intend to change the company’s current directorate.