Small investors oversubscribed to the Transgaz offer

"Major subscription for the minority share is a good sign. We will be able to see serious subscriptions for this share, and are expecting to see movement on the part of major companies. I believe that large investors are going by the rule of ‘better the money stays with us than going into the Transgaz accounts.’ In other words, they are not yet releasing funds for the Transgaz subscription. Perhaps they are not yet sufficiently convinced,” said Mihai Chişu, Egnatia Securities broker.

The subscription level for the lesser share yesterday reached 119.67 percent, with the value thereof amounting to some €30.8 million. Major investors subscribed to 83,467 shares, or 11.81 percent. On the whole, by yesterday, the Transgaz IPO was subscribed at a proportion of 54.95 percent. The total number of shares subscribed by both types of investors was 647,025.