Romanian hydropower producer Hidroelectrica seeks IPO manager

Romania's largest hydropower producer Hidroelectrica said it has invited bids from companies interested in managing the initial public offering (IPO) of a 15% stake in the company.

Bids in the tender must be filed by 1100 CET on January 20 and will be opened at 1200 CET, Hidroelectrica said in an announcement on its website.

Romania owns 80.06% of Hidroelectrica and property restitution fund Proprietatea owns the remaining 19.94% stake.

According to privatisation plans agreed with the IMF, Romania should sell minority stakes in key energy and transport companies, including Hidroelectrica.

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