Hydraulic pump producer Hidraulica UM Plopeni, controlled bybusinessman Dănel Dinu of Alexandria, is set to carry out, startingNovember 12, an initial public offering for floatation on theBucharest Stock Exchange, with this as the first such offeringafter the one of Teraplast Bistriţa (TRP) in April 2008.
Hidraulica plans to raise between 10.7 and 12.2m RON on theBucharest Stock Exchange to co-fund the building of a miniphotovoltaic power station, an investment for which it will getEuropean funds.
"We have a EU-funded project related to electricity generation fromrenewable sources, which was approved two months and a half ago,and we need co-funding. We took the first steps toward floatationthree months and a half ago. We're trying to get funding and BSEfloatation seems a viable method to us," Ionel Dinu, chairman ofHidraulica's board, told ZF. He is the brother of Dănel Dinu, whocontrols the company.
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