Hidroelectrica will come out of insolvency in 2015 and will be listed on the stock exchange in the first half of 2016, Remus Borza, the company’s trustee in bankruptcy, stated at the Romania Investor Day event in London.
“It will be by far the biggest listing. The state will obtain at least EUR 500 M for 15 per cent of Hidroelectria. There is no Romanian company better than Hidroelectrica with EBITDA of 65 per cent of turnover in 2014,” Borza said.
He underscored that in 2014 Hidroelectrica was the most profitable company in Romania. Hidroelectrica is the biggest energy producer in Romania, with a market share of 30 per cent.
The company has a representation in Budapest and will open a branch in Serbia in March. In the last two and a half years Hidroelectrica has lowered its staffing table by 30 per cent.
The company became insolvent for the first time in June 2012 – June 2013, then in February 2014.
