Croatia Plans to Offer 25% of National Power Grid HEP in IPO

Croatia plans to offer 25 percent of Hrvatska Elektroprivreda d.d., the national grid operator, for sale in an initial public offering in London and Zagreb this year, the head of the asset-selling office said.

The government expects to raise 2 billion kuna ($281 million) to 3 billion kuna and reinvest funds into the company, Mladen Pejnovic, head of the state property management administration, said in an interview in Zagreb on April 14. HEP also plans to acquire assets in neighboring Slovenia, Bosnia-Herzegovina and Montenegro, he said.