LONDON, July 5 (Reuters Breakingviews) - Europe’s biggest listing this year is off to a cautious start.
Hidroelectrica, Romania’s top hydropower producer, priced on Wednesday its initial public offering (IPO) at 104 lei ($22.87 per share, the middle of a proposed range, raising 1.8 billion euros.
That values the whole utility at 46.8 billion lei, or 9.4 billion euros.
And temperatures are expected to soar across large parts of the world, making hydropower plants more vulnerable to droughts.
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Persons:
Verbund, Hidroelectrica, Bogdan Nicolae Badea, Yawen Chen, Lisa Jucca, Pranav Kiran
Organizations:
Reuters, Union, Twitter, KKR, Thomson
Locations:
Bucharest, Romanian, Ukraine, China