FP sells the entire stake worth 68 mln euro in Transgaz

Proprietatea Fund (FP) sold the entire stake of the shares held in Transgaz for more than 68 million euro (303.5 million lei), according to the information available on the Bucharest Stock Exchange (BVB) website. Its stake is equivalent to almost 15% of Transgaz capital, whose major shareholder is the Ministry of Public Finance.

As per a FP release, the investment fund Franklin Templeton which is its Sole Administrator and Fund Manager announces the completion of the book building process for private placement on the BVB of ordinary shares held in Transgaz amounting to 1.764.620. The sale which was several times oversubscribed was completed at a price per share of about 38.7 euro (172 lei).

The transaction was intermediated by Citigroup Global Markets Limited, Raiffeisen Capital & Investment S.A. and WOOD & Company Finanacial Services which acted as Joint Global Coordinators and Joint Bookrunners.

Proprietatea Fund, established in Romania in 2005, operates as a closed-end fund, being listed on the Bucharest Stock Exchange since January 2011.