Hidroelectrica IPO in Romania
Playing a key role in Europe’s largest IPO of the year.
We were proud to act as Joint Bookrunner in the landmark Hidroelectrica S.A. IPO, which re-opened the IPO market in Romania. This was the largest IPO in Europe during 2023 and the largest ever ECM deal in Romania. It was also the largest privatisation of the last ten years in any CE&EE country – and it confirmed our unrivalled expertise in the ECM space across our core countries.
Hidroelectrica is the largest pure-play hydro generation platform in Europe and one of the largest renewable energy companies, with its installed hydro capacity supplemented by extensive capabilities in onshore wind. The company is the leading generation platform in Romania, playing a critical role in energy supply and energy transition. It generates 100% green electricity with close to zero carbon footprint.
The foundations for the successful transaction were built on a tailored and well-structured marketing plan that brought investors on board at an early stage. Widely anticipated by the market, the deal was a key focus of the investor community with 80+ accounts involved in early marketing phase
Hidroelectrica is the largest energy producer in Romania and, moreover, one of the most important players among green energy producers in Europe. The company's portfolio includes both hydro and wind energy sources and the company intends to continue to develop exclusively in the area of renewable energy. In this context, Hidroelectrica's IPO marked a landmark moment, representing the largest listing in recent years in Central and Eastern European countries, with the company valued at that time at over 54.3 billion lei. The participation in this transaction confirms the valuable experience of UniCredit Group in the European capital markets and renewable energy sector."
CEO Hidroelectrica
Thanks to this deal, UniCredit confirmed its unrivalled expertise in the European both European equity capital markets and renewable energy across its core countries, whilst simultaneously reinforcing its reputation in Romania and the region, being recognized as a reliable partner for our clients with Capital Markets aspiration.”
Corporate Finance Advisory Head, UniCredit Bank Romania