BUCHAREST — European renewable energy business Hidroelectrica has selected strategic communications and ESG consultancy Hudson Sandler and Grayling Romania to support its listing on the Bucharest Stock Exchange: Europe’s largest IPO in 2023 to date.

Hudson Sandler has worked alongside Grayling Romania, its local partner agency, to provide national and international strategic PR counsel for the IPO this month, including a media engagement programme and a retail marketing campaign to attract international institutional investors, as well as Romanian institutional and retail investors.

Hidroelectrica, Romania’s largest electricity producer, owns and operates 182 hydropower plants across the country as well as windfarms and investments in solar. Its IPO was Romania’s biggest ever public listing and was over-subscribed, with a market capitalisation of €9.4 billion and the share price increasing by 9.7% on the first day of trading.

Hudson Sandler partner Emily Dillon said: “We are delighted to have supported Hidroelectrica on one of the largest ever IPOs in Eastern Europe and a historic transaction for Romania. The success of the deal, which attracted significant interest from both local and international investors, offers new optimism for European capital markets.

“It has been a real privilege to play our role in educating international audiences on Romania’s strengthened capital markets environment and the quality of Hidroelectrica’s business and strategy, which are highly complementary to Europe’s energy transition.”

Grayling Romania general manager Cristi Cretzan added: “The long-anticipated IPO of Hidroelectrica has provided a considerable boost to the Romanian capital market, and we are proud to have played a meaningful role. As the largest ever Romanian IPO, and one of the largest ever in Eastern Europe, it has provided significant liquidity into the Bucharest Stock Exchange and increased exposure across Europe.”