Deals
Hidroelectrica Tipped for Inflows, Index Boost After Record IPO
- Romanian hydropower utility outperforms Bucharest’s BET index
- Investors eye Hidroelectrica’s first earnings later this month
Photographer Odd Andersen/AFP/Getty Images
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Hidroelectrica SA is expected to attract more investors in the coming weeks, as the hydropower utility’s weighting in Romania’s main index is set to rise after its landmark initial public offering, according to fund managers.
Shares in Hidroelectrica have risen roughly 5% since investment vehicle Fondul Proprietatea SA raised altogether 9.3 billion lei ($2.1 billion) by listing all of its stake in the company in July, outperforming Bucharest’s BET index over the period. It remains Europe’s largest IPO of the year.