about us | newsletter | contact | archive | members area
Marius Nedelcu, TransferGo
Cash will become obsolete and this will be the result of digital finance advancement»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Borza: Hidroelectrica would get one billion Euro for listing on the stock exchange

Hidroelectrica could get one billion Euro from listing on the stock exchange if the process would run this year, but the funds should go to the state budget, as the energy producer does not need the money, the company’s former judicial administrator Remus Borza said in a press conference.

2017-05-08 15:33:10

"Hidroelectrica has 500 million Euro in bank deposits," said Borza. "If we are to make the listing, which is a turning point for Hidroelectrica, there is no greater time than now to do it. Hidroelectrica can be listed at a multiple EBITDA of 15-20 times, which means the company has a value of 7.5 to ten billion Euro. At a 15 per cent listing this year, the state budget could get an extra one billion Euro."

According to Borza, Hidroelectrica does not need the money that could be obtained from a possible listing.

Romanian Government is willing to move the Hidroelectrica IPO process forward as quickly as possible, recently said Greg Konieczny, portfolio manager of Fondul Proprietatea and executive vice president within Templeton Emerging Markets Group, who had a meeting with Prime Minister Sorin Grindeanu.
According to him, there has been very little progress over the last few months in relation to this IPO process and a lot of decisions have been stalled within different committees and different levels of the Government.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  7895 Views
Daily Info
Porsche Engineering Romania aims to reach 120 employees in 2018

Two years since its opening in Cluj-Napoca, Porsche Engineering Romania, the local subsidiary of the global engineering services provider, has expanded its scope of work in th...

New bill regulating activity of Uber, Taxify in Romania, submitted to Parliament

A draft bill regulating ridesharing services in Romania, such the ones provided by Uber or Taxify, has been submitted to the Parliament by several MPs from both ruling and opp...

Political risks in CEE on the rise but no impact yet on local businesses, says Coface

A recently released report by Coface assessing the political risks in the Central and Eastern European countries (CEE) shows that, while social risks are low, due to the favou...

Facebook posts record revenues for Q1, despite data privacy scandal

Facebook Inc. shares rose on Wednesday after the company posted a surprising 63 per cent rise in profit as well as an increase in users, despite the fact that it has been goin...

New car sales increase by over 20 per cent in Romania in the first quarter

New vehicle sales in Romania increased by 20.3 per cent in the first quarter of this year compared to the same period of 2017, reaching almost 36,000 units, according to data ...

 
 
   
advertising

advertising

advertising

advertising

More on News
ING Bank Romania to accelerate business development through digitization

Customers are increasingly interacting with the bank through its digital platforms and are making more card payments, according to a report issued by ING Bank Romania.

2 Comments

TransferGo: We will come to a point where money transfers will be dominated by app usage

Cash will become obsolete and this will be the result of digital finance advancement, Marius Nedelcu, Country Manager at TransferGo told The Diplomat-Bucharest.

1 Comment

Globalworth: The number of green accredited buildings continues to grow every year

Romania today is one of the few economies in Europe that had a consistent expansion over the past six years, outpacing EU average growth, Dimitris Raptis, deputy CEO and Ch...

UniCredit announces updates in the Mobile Banking application

UniCredit Bank launches new facilities in the up-to-date version of its Mobile Banking application to provide customers with a simpler and faster user experience.

ESOP: We expect that the green building trend further grows

The Romanian market is one of the most dynamic in the region due to the accelerated development in IT&C, BPO, shared services industries, and to the expansion of research &...

1 Comment

Immofinanz: Constant, visible shift towards energy efficiency on the local office sector

Romania's strong economic growth in 2017 placed the country in a leading position in the CEE region and the trend is expected be sustainable over the next years, Christian ...

Crosspoint: Currently, there is a relatively small number of green office buildings throughout Romania

2017 has been a good year for the office market all throughout the CEE region: low vacancy rates (Bucharest - nine per cent, Warsaw - 14 per cent, Budapest - 9.2 per cent, ...

1 Comment