STJ advises Hidroelectrica on its $2.06 bn IPO – Largest European IPO in 2023 YTD


STJ is delighted to announce that Hidroelectrica, the largest company in Romania (80% owned by the State) and one of the leading companies in the hydropower sector in Europe, has completed its successful $2.06bn IPO (assuming full exercise of the overallotment option) and is expected to begin trading on the Bucharest Stock Exchange on 12th July 2023.

Despite challenging market conditions, Hidroelectrica priced above the midpoint of its RON94-112 per share price range at RON104 per share.

The offering is larger than all previous Romanian IPOs combined, the largest European cornerstone tranche since Porsche’s listing in September 2022 and is the largest CEE company IPO since 2021 and the largest CEE exchange listing since 2020.

Back to Transactions