ECONOMY

Transgaz IPO may start in November

BUCHAREST (Reuters) – Romania’s gas pipeline operator Transgaz may launch an initial public offering of shares in November, Economy and Finance Minister Varujan Vosganian was quoted as saying on Friday. The state-owned firm, part of a consortium planning to build the Nabucco gas pipeline to bring Iranian and Caspian gas to Central Europe, has said it plans to offer a 10 percent stake in an IPO to be run by Raiffeisen Capital & Investment SA Bucharest. «We hope that we can launch the subscription in November,» Vosganian was quoted as saying by state news agency Rompres during a visit to the town of Sibiu. The minister said the listing could earn the company 50 to 60 million euros. Romania, whose total stock market capitalization stands at around -30 billion, is attractive to investors hoping to capitalize on the country’s entry to the European Union this year.