The offer will take place over a period of 8 working days, between 23 June and 4th of July 2023. July 12 will be the first day when Hidroelectrica shares will be tradable on the Bucharest Stock Exchange.

"We are very happy that we have arrived at the moment when Hidroelectrica is listed on the stock exchange. It is also one of the largest companies in Romania. Anyone who wants can become a shareholder in Hidroelectrica. The company has grown from one year to the next and we want to keep this evolution in the future. July 12 will be the first day when Hidroelectrica shares will be tradable on the Bucharest Stock Exchange. Hidroelectrica is a 100% green company and we will continue to invest only in green projects. It is part of the effort which we all have to do in order to have a footprint, let's say as small as possible, on the environment. In the area of ​​the energy sector, Hidroelectrica is the only 100% green operator that also has a very large market share and we want to be increasingly present not only in the production market but also in the supply market. Hidroelectrica is a stable company and is the main pillar that must ensure the energy transition in a sustainable manner, both nationally and regionally. Global warming is a matter that is happening and we owe it to make an effort to ameliorate environmental problems. There is interest from investors, both in the area of ​​retail investors, and individuals, and in the area of ​​institutional investors, from Romania and from all over the world. We are thus convinced that this interest will be completed with a successful listing", Bogdan Badea, General Director of Hidroelectrica, told Green Forum.

The shares are offered at a price range of RON94 – RON112 (€18.8-€22.4) per share. This price corresponds to a market capitalization of RON42.3 billion to RON50.4 billion (from €8.5 billion to €10.2 billion).

The offer is intended for both the retail segment, i.e. small investors - any natural person - and institutional investors.

For retail investors, the fixed price is RON112 (€22.4)/share. Retail investors have a 3% price discount for orders placed in the first five business days of the offer. Retail investors can subscribe to up to 15% of the offering.

For institutional investors, the offer involves any price between RON94 – RON112 (€18.8-€22.4).

Hidroelectrica reported a turnover of RON9.12 billion (€1.82 billion) and a profit of RON4 billion (€800 million) in 2022, the company being one of the largest energy companies in Southeast Europe and the largest producer of electricity in the region.

The hydroelectric plants and the wind farm that the company owns are strategically located in eight key geographic areas throughout Romania. They generate 100% green electricity.

Approximately 1.1 GW of the Group's assets are slated for renovation or modernization by 2030 with the aim, among other things, of maintaining the high availability of the existing asset base and unlocking the potential of current hydropower plants. After the completion of the retrofit modernization program, the company expects to unlock approximately 240 MW of capacity and extend the life cycle of the hydro plants by 20 years, on average (in the case of modernization) and 30 years (in the case of retrofit).

Hidroelectrica is the largest energy producer in Romania. The group owns and operates 182 hydropower plants, five pumping stations, and a wind farm that are strategically 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 hydropower plants, run-of-river hydropower plants, and pumping stations. The company owns a production portfolio 100% from renewable sources, with an installed hydroelectric production capacity of 6.3 GW and an installed onshore wind capacity of 108 MW in the Crucea wind farm.

Between 2018 and 2022, the Company had a market share of approximately 29% considering the total energy generated and delivered in the system.

Hidroelectrica is one of the largest hydropower producers in Europe, with a volume of electricity generated from hydroelectric sources of 13.6 TWh in 2022, 16.9 TWh in 2021, and 15 TWh in 2020 (all these representing the gross amount of production). Production in 2022 reflects less favourable hydrological conditions due to severe drought.

In the first quarter of 2023, the company obtained consolidated revenues of RON3.272 billion (€654.4 million), which were generated by the increase in the total amount of energy sold (4,838 GWh in the first quarter of 2023) both in the production and supply segments. The net profit was RON1.723 billion (€344.6 million) in the first quarter of 2023.