Thursday, November 15, 2007

Romania Transgaz IPO subscription to start Nov 26

BUCHAREST, Nov 14 (Reuters) - Investors could subscribe to an initial public offering of a 10 percent stake in Romania's gas pipeline operator Transgaz between Nov. 26 and Dec. 7, the securities watchdog said on Wednesday.

State-owned Transgaz, part of a consortium planning to build the Nabucco gas pipeline to bring Iranian and Caspian gas to central Europe, seeks to raise some 65 million euros by offering 1.17 million new shares at 191.9 lei ($81.48) per share.

The finance and economy ministry has said the bourse listing of the Transgaz stake should take place by March 2008.

Analysts have said new IPOs such as Transgaz and last year's listing of a 10 percent stake in power grid operator Transelectrica will gradually breathe more life into the illiquid Bucharest Stock Exchange.

(Reporting by Luiza Ilie; Editing by David Cowell)

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