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Hidroelectrica, one of the most profitable public companies, wants to extend August 7, 2019, the letter of engagement signed with the consortium of Morgan Stanley and Raiffeisen Capital & Investment on the intermediation of listing process on the stock exchange of the company, writes News.ro
The subject must be approved at the shareholders' meeting of August 6.
"Approval of Complementary Act No. 7 to the letter of commitment signed on February 7, 2014 by the Intermediate Union formed by Morgan Stanley & Co. International plc and Raiffeisen Capital & Investment SA and Hidroelectrica SA in the company and content offered by the Intermediary Trade Union formed by Morgan Stanley & International Plc Co. and Raiffeisen Capital & Investment SA, respectively the extension of the validity of the letter of engagement up to 39, at the closing of the initial public offering, but no later than August 7, 2019. "
In October of last year, the former Minister of Energy Toma Petcu said that he has changed the percentage with which it will list Hidroelectrica, from 15% to 10 "
Initially, a decision in 2013 provided for the listing of 15%.
Hidroelectrica was valued by the Proprietatea Fund, l & # 39; minority shareholder, at about 18%, he stressed while "all the money in this list remains in the company. billion lei
Last year, Hidroelectrica recorded a gross profit of 1.603 million lei, with a business turnover of 3.244 billion lei and an EBITDA of 69%. In addition, in the first quarter of 2018, the company expects gross profit of 569 million lei, with a business turnover of 970 million, the EBITDA of the first quarter of the current year being 74%.
Hidroelectrica prepares investments of 490.58 million lei this year, of which 224.82 million lei are in development, and 187.21 million lei go to the reconquest
The company estimates this year a production of 14.64 TWh, predicted on the basis of the average hydrology of the last five years
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