Romania’s gas pipeline operator Transgaz yesterday said it will offer a 10 percent stake in an initial public offering to be run by Raiffeisen Capital &Investment SA Bucharest.
Romania, whose total stock market capitalization stands at around 24 billion euros, a fraction of the size of more advanced Eastern European markets, is attractive to investors hoping to capitalize on benefits from the country’s EU entry this year.
State-owned Transgaz said in a statement the financial services contract with Raiffeisen was signed yesterday, but did not elaborate when the IPO was scheduled.
(Reuters, 12/04/2007)