BVB listing costs Transgaz €2 mln

Raiffeisen Capital&Investment is to receive €1.34 mln, according to Transgaz Manager for Strategy and Relations with shareholders, Ioan Stefanescu.
These expenses will be covered from money raised from the sale of Transgaz shares.

The IPO brought in €1.8 billion, instead of the expected €65 million, for 10 percent of the gas transportation company’s share capital. It was launched on November 26. Large investors over-subscribed the IPO 38.95 times, paying a total €1.5 billion for 60 percent of the shares in the offering. Smaller investors, who were allowed to pay a maximum €0.14 mln for their shares, over-subscribed the IPO 12.4 times.
Among subscribers are several lenders, such as Banca Transilvania, and the European Bank for Reconstruction and Development (EBRD), investment funds, brokerage companies, state-owned Bulgarian company Bulgargaz Holding, and other foreign companies.