Romania could lose billions of Resilience Facility money if “at least 15% of state-owned utility Hidroelectrica is not listed this month, local media reports.
But these claims are in contradiction to the official text of the Romanian Romanian Recovery and Resilience Plan. It stipulates that “up to 15%” (meaning less than 15%) “will be traded” on the exchange after the IPO.
Hidroelectrica is expected to go list its shares on Bucharest Stock Exchange this month under an IPO. Minority shareholder Fondul Proprietatea initiated the process and will sell part of its 20% stake.
