TODAY’S NEWS
ECONOMY & COMPANIES
–The largest share sale in the history of Romania ended on Tuesday, July 4 at 12 p.m., with the closing of the initial public offering (IPO) of hydropower company Hidroelectrica (H2O.RO), where minority shareholder Fondul Proprietatea (a fund managed by U.S. asset manager Franklin Templeton) put up for sale 78 million shares for about RON8.8 billion. Hidroelectrica’s IPO on the Bucharest Stock Exchange has been priced at 104 lei ($22.87) per share, implying a market capitalisation of 46.8 billion lei ($10.29 billion). Hidroelectrica is Romania’s biggest energy producer, accounting for a third of its electricity. The company, will list on July 12.
–New car registrations in Romania grew by 19.03% on the year to a total 13,173 units last month, data from the association of automotive manufacturers in Romania (ACAROM) showed.
–Consumer Loan Reference Index IRCC dropped to 5.94% a year for Q3 2023 versus 5.98% for Q2 2023, the National Bank of Romania data showed.
–Romania’s industrial production prices for the total (domestic market and non–domestic market) increased by 7.7% in May 2023 y-o-y, according to data from Romania’s National Statistics Institute INS.
–Romania’s foreign exchange reserves stood at EUR53.4 billion in June 2023, higher by EUR335 million versus May 2023, BNR data showed.
