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Greg Konieczny: Hidroelectrica, Bucharest airport, Constanta Harbour and Salrom should be on the stock exchange as soon as possible
Hidroelectrica, Bucharest airport, Constanta harbour and Salrom should get on the stock exchange as soon as possible, stated on Monday Greg Konieczny, the vice chairman of Templeton Emerging Markets Group and manager for portfolio of the Fond Proprietatea in a press conference.
‘We had an increase of the net assets of 1% and the main contribution came from the non-listed state-run companies Hidroelectrica, Bucharest airport and Constanta harbour, followed by Salrom. There are four companies which we promote and will continue to promote as being companies which should get on the stock exchange as soon as possible. Despite the fact that we are minority shareholders, we can add vale to these companies and we proved we are active administrators. Those which contributed negatively were the companies which are not listed Petrom and Romgaz as a result of the drop in prices for oil and gas and Nuclearelectrica similarly, I guess because they continued to speak about reactors 3 and 4’ Konieczny said.
According to him, the calendar shows that Hidroelectrica should be listed in the second quarter of 2017.
‘From the point of view of operational performance Hidroelectrica had a very good situation this year. We can say that as a whole for Hidroelectrica should be a record year for profit. At present, there is an interim council and an interim surveillance council. It is good that the selection process according to the governance code started, the ministry of energy started this process and the deadline for the application was 30 October and there are 84 candidates. We notice a big chance to have a very professional council with good reputation before the elections, which would be followed by another process for the surveillance committee to nominate an executive management, which should last 2-3 months, after the election of the new council. The listing process advances although very slowly according to our standards and at present the targets are the second quarter of next year’ the manager for portfolio of Fond Proprietatea said.