Hidroelectrica, the largest producer of electricity and the most profitable state-owned company in Romania, re-started the auction for the EUR 1.75 million contract for consultancy services needed for listing its shares on the Bucharest Stock Exchange (BVB), Ziarul Financiar daily announced.

Last week, the company refused all the offers submitted as “unacceptable and / or non-compliant”.

Thus, Hidroelectrica published on March 3, 2020 in the Electronic Public Procurement System (SEAP) the contract related to the “consulting services” for the preparation and implementation of the initial public offer (IPO).

The new deadline for submitting offers is April 6.

The initial deadline was February 10,  which theoretically means a two-month delay in the listing process.

The equity adviser will help the company prepare for listing but will not manage the initial public offering (IPO) itself. The selection process for the IPO intermediary hasn’t been launched yet.

(Photo: C Liang Zhao/ Dreamstime)

editor@romania-insider.com