Proprietatea, a minority shareholder in Romania’s largest electricity producer, the state-owned company Hidroelectrica, has re-estimated the value of its 20% stake in the company – it was adjusted by 14% on April 30 compared to the March 30 estimate.
This means that the value of the entire package of shares of hydropower producers increased by 7.2 billion levs (1.5 billion euros), to 56.8 billion levs (11.5 billion euros).
The value was updated on the basis of the latest financial information and a new multiple increase in EBITDA, according to the analysis of comparable companies listed on the capital market and the value of DLOM (discount for lack of marketability), reports Proprietate Fund.
FP has started the listing process and plans to place at least 15% of its shares on the Bucharest and London Stock Exchanges.
Following the recent change in legislation, FP will be able to list only up to 1.5% of Hydroelectric’s shares in London.
Source: profit.ro
