Romania: Fondul Proprietatea isn’t waiting for Hidroelectrica listing to happen this year

Fondul Proprietatea (FP) isn’t waiting for Hidroelectrica listing to happen this year, as the process entails a series of steps, among which electing a fully-mandated supervising board, Franklin Templeton Investments CEO and Fondul Proprietatea Johan Meyer said on Wednesday. “We’re not waiting for a listing of Hidroelectrica to happen, as a matter of fact, what to want to actively engage in this process, but unfortunately, for various reasons, it hasn’t taken place, and really a process like this needs political will and support from the highest level in order to take it forward. But of course there are a couple of key-requirements, one of these being a fully-mandated supervising board,” Johan Meyer said.

The fund representative maintains that a possible listing would not be affected by the current market conditions, as it is an interesting asset for investors. Johan Meyer pointed out that in 2017 PF received from the company record dividends for the 2016 financial year, worth 206.6 million lei, by 53.5 percent more compared to the previous year. In September 2017, the company’s shareholders approved a special dividend of 655 million lei, which was paid by the end of the month. FP received 130.6 million lei.

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