English
The documentation for the initial public offering for 10% in Transgaz - Medias has been approved by the National Securities Commission (CNVM). Those interested in Transgaz shares may subscribe between November 26th and December 7th for 191.92 RON/share (57 EUR). A total of 1,177,384 shares are available.
Brokers estimate that investors will fight bitterly to get a piece of Transgaz, as the company is a State-owned fail-safe natural gas carrier. Estimates point to as much as a 10x oversubscription. The absence of any similar offers at the moment also augments interest in Transgaz. The company will use the funds derived from the IPO to finance the investment program for 2008. Investments scheduled until 2013 amount to 832 million RON.
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