Romania’s gas pipeline operator Transgaz may launch an initial public offering of shares in November, Economy and Finance Minister Varujan Vosganian was quoted as saying on Friday.
The state-owned firm, part of a consortium planning to build the Nabucco gas pipeline to bring Iranian and Caspian gas to Central Europe, has said it plans to offer a 10 percent stake in an IPO to be run by Raiffeisen Capital & Investment SA Bucharest. “We hope that we can launch the subscription in November,” Vosganian was quoted as saying by state news agency Rompres during a visit to the town of Sibiu.The minister said the listing could earn the company 50 to 60 million euros.
Romania, whose total stock market capitalization stands at around –30 billion, is attractive to investors hoping to capitalize on the country’s entry to the European Union this year.
(Reuters)