Fondul Proprietatea is likely to list its entire stake. It is listed on the stock exchange, but will not be able to go below 15% because it was approved by the general meeting of shareholders, Virgil Popescu said on Friday during a press conference organized at the end of his term, according to Agerpress.

“It is hard for me to believe that there is no demand in the market, but I can still theoretically answer that when 19% is found on the stock exchange, part will go to other shareholders, part will remain with the Proprietatea Fund on the stock exchange. This means that 19.9% ​​of Hidroelectrica is in on the stock exchange,” said Popescu.

According to him, Hidroelectrica is the most expensive Romanian company, its listing is in a straight line, and it should be said that the Romanian state is not quoting anything from the 80% stake it has.

“If I am not mistaken, its assets are 56 billion lei, it has even surpassed OMV Petrom. It is the first Romanian company and I am convinced that it will be a real success,” he said.

The sources, who spoke on condition of anonymity, told Reuters that Hidroelectrica hopes to raise more than one billion euros in what could be one of the biggest initial public offerings (IPOs) in Europe this year.

According to Reuters, Fondul Proprietatea values ​​its 20% stake in Hidroelectrica at 2.2 billion euros.

Hidroelectrica is the largest energy producer in Romania. The group owns and operates 182 hydroelectric plants, five pumping stations and a wind farm, which are located in eight branches organized geographically on the territory of Romania. The total installed production capacity of the company’s hydropower assets is divided into storage hydroelectric power plants, channel hydroelectric power plants and pumping stations.