Transgaz IPO rakes in €1.8 billion

“We were expecting this to be successful because the offer had a large distribution network. Furthermore, Transgaz is a solid company and many investors were interested therein," said Dana Mirela Ionescu, President of Raiffeisen Capital&Investment, the company managing the Transgaz IPO.

Transgaz attracted 2.6 times more investors than state-owned energy transport company Transelectrica, to which 4,658 investors subscribed.

The subscription ratio of Transgaz is the highest in the history of BVB, outrunning both Transelectrica and aluminium producer Alumil Rom Industry.

The IPO was launched on 26 November and shares worth €65 mln were available for subscription, or 10 percent of the gas distributor's share capital.