Transgaz managers borrowed €21.4 mln to buy shares

Transgaz Economic Manager, Radu Costica Moldovan, made the highest subscription, worth €12 million, for which he secured 5,481 shares. The company's General Manager, Ioan Rusu, subcribed €5.5 mln. The company’s head of Budget, Finance and Accounting, Dumitru Marin, paid €3.82 mln for his shares, while Constantin Zidaru, a member of the Transgaz Board of Directors, subscribed €155.930.

The IPO brought in €1.8 billion, instead of the expected €65 million, for 10 percent of the gas transportation company’s share capital. 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.