Raiffeisen and Morgan Stanely to coordinate Hidroelectrica’s IPO

The selection process run by Hidroelectrica in view of appointing an agent for its initial public offering scheduled for June, this year, has been carried out, all technical bids being declared eligible. According to a notification published on the hydro power producer’s website, the syndicate consisting of Raiffeisen Capital & Investment and Morgan Stanely & Co International has been assigned to coordinate the said offering. Its effective activity will begin once the Letter of Commitment relative to the shares sale will have been signed and thus, will have come into force.

There have been five offers submitted for coordinating Hidroelectrica’s IPO, as Govnet has previously informed. Apart from the winner, other offers belong to syndicates which comprise of Alpha Finance Romania, Alpha Bank Romania, Deutsche Bank AG, the London branch, SSIF Intercapital Invest, SSIF Broker and UniCredit Bank Austria; BRD Groupe Societe Generale, Societe Generale, and JP Morgan Securities; Erste Group Bank, Goldman Sachs International and BCR, and eventually,  CITIGroup Global Markets Limited - Wood&Company Financial Services - NBG Securities Romania – NBG Securities, Swiss Capital, BT Securities.

Hidroelectrica will run this year in June – according to Constantin Nita, the Minister of Energy – an initial public offering through which aims to sell 15 percent of its shares. The hydro-power energy producer has a social capital of approximately 1 billion euro – some 80 percent owned by the Romania’s Ministry of Economy, and the remaining, nearly 20 percent is owned by Proprietatea Fund.