According to a press release from Franklin Templeton International Services, the fund and Hidroelectrica selected a consortium of investment banks for the IPO, which consists of international, regional and local investment banks.

Bohdan Badya, president of the company’s management, said on Wednesday that the consortium would be announced in a few days.

Due to certain listing restrictions, the names of the banks are not disclosed.

“In the IPO process, the role of the selected investment banks is to recommend the optimal structure of the deal, to promote the track record as well as the strategy and attractiveness of Hidroelectrica to local and international investors, to place the proposed financial instruments. in the IPO, as well as for assistance in the listing process,” the quoted source said.

Johan Mayer, CEO of Franklin Templeton Investments Romania and portfolio manager of Fondului Proprietatea, stated that “the selection of investment banks is an important step in the preparation for the IPO and listing of Hidroelectrica.

“We hope to be able to complete this landmark operation as soon as possible,” he added.

Bohdan Badya noted that, unfortunately, Hidroelectrica’s listing is not always visible and completely understandable.

The questions we get are: Will you be sold? Will we remain without Hydroelectricity?

“No, “Hydroelectricity” is not for sale, and we are not left without “Hydroelectricity”. The list will allow all Romanians to access Hidroelectrica. This is a company that has grown significantly in recent years. We tried to focus on what the development of the company means. Growth both from the point of view of liquidity and financial indicators, and from the point of view of the investment plan,” said Badea.

The listing will take place in Bucharest, but the shares will not be sold by the state, but by Fondul Proprietatea, which owns about 20%.