Transgaz capitalization down by €322 mln in two months

The company’s capitalization was worth €744 million yesterday, €322 mln lower than capitalization at the end of 2007. Shares traded for €63.2 per share, 22 percent lower than the first day of trading for Transgaz allocation rights (traded before the actual shares were issued on the stock market).

“The reason for the Transgaz share decline is the same as that of the entire market. I think the economy, macro-economically speaking, will make a comeback in the second half of the year, when I believe the stock market will also revive,” said a broker for EFG Eurobank Securities, Mihai Piscan.

One of the main investors buying Transgaz shares after their listing was the East Capital Asset Management investment fund, which acquired 0.15 percent of the shares. Following stock market corrections, East Capital lost some €0.5 mln on Transgaz shares.