Fondul Proprietatea owns around 14.99% in Transgaz.
Based on Transgaz’s close price Tuesday, of 180 lei (EUR40.41) a share, the available stake is valued at RON212.4 million (EUR47.7 million).
Fondul Proprietatea plans to sell 1.18 million Transgaz shares via an accelerated bookbuild in a private placement addressed to international and local qualified investors. “Members of the general public are not eligible to take part in the private placement,” the fund said in a statement.
It said the price per placing share and the final number of shares sold will be determined upon completion of the bookbuilding process.
Transgaz’s shares which are not sold in the private placement will be subject to a 180 day lock-up.